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Swiss Re Posts $259 Million Quarterly Loss

Zurich, Switzerland-based Swiss Re reported a third quarter net loss today of 304 million Swiss francs ($259 million), compared to net income for the same period in 2007 of 1.5 billion Swiss francs ($

By Caroline McDonald | Updated on November 04, 2008

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.

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