Swiss Re Needs to Remain Focused On Tailored Deals: Cole
Swiss Re AG, the world’s second-largest reinsurer, reported a better-than-expected third-quarter profit as tailored insurance deals and higher investment returns offset falling prices. Net income in the three months through September fell to $1.18 billion, or $3.23 a share, from $1.4 billion, or $3.73 a share, a year earlier, the Zurich-based company said in a statement on Thursday. Analysts had forecast earnings of $931.8 million, according to the average of eight estimates in a Bloomberg survey. Chief Financial Officer David Cole discusses profits with Caroline Hyde in Berlin and Guy Johnson in London on "Bloomberg Markets: European Open."