Debbie pushes Swiss Re P&C net profit down 45%

First-quarter P&C reinsurance net profit at Swiss Re plunged
45 percent to $321mn, after the segment took a $320mn hit from
Cyclone Debbie.
However, the P&C net profit figure easily beat the analyst
consensus of $282mn.
The $320mn Debbie loss from the P&C segment combined with a
$30mn loss from Corporate Solutions to make a group loss of $350mn
related to Debbie, as previously disclosed by Swiss Re.
The P&C combined ratio deteriorated by 2.3 percentage points
to 95.6 percent,...