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Swiss Re Expects Higher Prices; Posts Q1 Profit After 2011 Loss

Swiss Re sounded an upbeat note for 2012 and said reinsurance prices could rise further after it posted a forecast-beating profit for the first quarter thanks in part to the absence of large natural catastrophes.

By Catherine Bosley, Reuters | Updated on May 04, 2012

Swiss Re sounded an upbeat note for 2012 and said reinsurance prices could rise further after it posted a forecast-beating profit for the first quarter thanks in part to the absence of large natural catastrophes.

The firm, which competes with Germany’s Munich Re, recorded a profit of $ 1.1 billion for the first three months of the year, beating an average forecast for a $633 million profit in a Reuters poll.

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