Friday, February 23, 2018

Swiss Re FY17 Profit Down, Says Carefully Assess SoftBank Deal; Stock Up

Reinsurer Swiss Re (SSREY.PK) reported Friday a sharp decline in fiscal 2017 profit, hurt mainly by $4.7 billion losses related natural catastrophes, as well as weak premiums written. However, the company announced higher dividend and said its Board will propose a further share buy-back program of up to 1.0 billion francs. Swiss Re shares were gaining around 3 percent.

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