Swiss Re up as non-life rallies

Swiss Re, the world's second-largest reinsurer, has reported a 2000 net profit rise of 21% 2.97bn Swi...

Swiss Re, the world's second-largest reinsurer, has reported a 2000 net profit rise of 21% 2.97bn Swiss francs, citing an improvement in its non-life business. It also confirmed it is to acquire Conning Corp, an affiliate of MetLife, which specialises in asset management for insurance company investment portfolios.
The group said the acquisition would significantly strengthen its new financial services business group. It did not give any terms for the transaction.
Swiss Re said the earnings rise in 2000 reflected a record return from investments and strong improvements in non-insurance insurance business. It added that it expected further improvements this year.
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