NU Online News Service, May 5, 11:54 a.m. EST
The impact of natural catastrophes took a toll on Swiss Re during the 2011 first quarter, as the company reported a net loss of $665 million.
"In the first quarter of 2011, we experienced exceptionally high losses from natural catastrophes," says Stefan Lippe, Swiss Re's chief executive officer in a statement. "In the renewals following these events, we maintained our focused and disciplined underwriting approach. We were able to grow our [property and casualty] treaty book by 13 percent year-to-date, and to outperform the market in terms of pricing adequacy."
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