Zurich, Switzerland-based Swiss Re reported a third quarter net loss today of 304 million Swiss francs ($259 million), compared to net income for the same period in 2007 of 1.5 billion Swiss francs ($1.29 billion).
The company said in a statement that "Despite the severe market circumstances, Swiss Re earned 884 million Swiss francs ($759.7 million) during the first nine months of 2008." Swiss Re upped its hurricane loss estimate by $65 million.
Book value per share was 74.16 Swiss francs ($63.79) at the end of September 2008 compared to 77.65 Swiss francs ($66.8) at the end of June 2008.
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