Swiss Re's Q1 profits hit by Cyclone Debbie
Swiss Re's first quarter 2017 after tax profits fell 53% compared with Q1 2016 to $656m (£511m) after a $350m hit from Cyclone Debbie.
The reinsurer’s P&C combined operating ratio deteriorated from 93.3% in Q1 2016 to 95.6% in Q1 2017; after tax P&C profits fell from $587m to $321m.
Swiss Re was hit hard in Australia and New Zealand
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