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Least favored lines would require ‘very, very high’ rate hikes to tempt the reinsurer.

Le groupe de réassurance suisse affiche un bénéfice de plus d’un milliard de dollars au premier semestre. Il affichait une perte du même montant sur la même période l’an dernier.

Swiss Re Scores Profit Despite COVID Death Claims, Catastrophe Losses Swiss Re reported consolidated net income of USD 333 million in the first quarter of 2021, despite heightened losses in its life and health reinsurance business related to COVID and property and casualty reinsurance losses from U.S. catastrophes. The company said the strong underlying performance of all businesses more than offset losses related to COVID- 19 (USD 643 million) and large natural catastrophes (USD 426 million). Excluding COVID-19-related claims and reserves, Swiss Re’s net income was USD 843 million. The qua...

Swiss Re life and health Q1 results reflect big COVID-19 hit 30-04-2021 20-09-2017 Swiss Re’s Q1 2021 results show that its life and health business has taken a significant hit due to COVID-19. However, the reinsurer said that strong underlying performance of all businesses more than offset these losses. The group’s first-quarter net profit was $333 million, compared to a loss of $225 million in Q1 2020. For property and casualty reinsurance its net profit was $477 million, compared to $61 million for Q1 2020, and the combined ratio was 96.5 percent, as compared to 110.8 percent for 2020....

A federal judge has thrown out a lawsuit that claimed private prisons used by the state violate constitutional protections including a prohibition against slavery.  Judge Douglas Rayes rejected arguments made by attorneys for the NAACP that because the private prisons benefit financially from their contracts with the state they are getting the "fruits of prisoners' economic value and labor." The lawyers argued that those contracts have effectively transformed the prisoners into property. Judge Rayes also dismissed complaints regarding Eighth Amendment violations of unusual punishment as well...