Swiss Re posts $2.6 billion net income

Swiss Re has announced a net income of $2.6 billion for 2011, representing a 204 percent increase on their $863 result for 2010.

The company’s return on equity also increased from 3.6 percent in 2010 to 9.6 percent in 2011.

"With a successful year behind us and a modest but broad market turn underway, Swiss Re is well positioned to perform and grow in a lowyield environment,” says Michel Liès, chief executive officer of Swiss Re.

“Our risk management has proven robust in 2011 with strong Group and P&C results, as well as the excellent performance of our Asset Management portfolio in challenging markets. This solid foundation, combined with unique growth opportunities, means that we are positioned well heading into 2012. We will further capture excellent opportunities in P&C Reinsurance and Corporate Solutions, while focusing on the profitable development of our L&H business, including high-growth markets.”