Zurich, Switzerland (GenevaLunch) - Swiss Re, one of the world’s top 10 insurance companies and a world leader in risk insurance, surprised the financial world Tuesday with its announcement of a third quarter net loss of CHF304 million, but it insisted that its “balance sheet is strong, and the company’s capital adequacy remains at very high levels.”

Net income for the first nine months is CHF880m, and despite what the company refers to as turbulent markets, “shareholders’ equity decreased only 6% in the third quarter to CHF 24.1 billion, compared to the second quarter of 2008.”

Related story, Financial Times

Posted by :: Ellen Wallace on 4 November 2008 at 11:00 | permalink
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News story, GenevaLunch, 4 November 2008.

Filed under: Business

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