Swiss Re bottom line falls 14%, but beats consensus

Global reinsurer Swiss Re reported a 14.3 percent year-on-year
drop in group net profits to $1.2bn for Q1 2016, but still
comfortably beat many analysts' expectations.
Citi analyst Andrius Budnikas called the results
"solid", noting that profits were some 29 percent better
than consensus.
However, the group combined ratio rose 7.8 percentage points
from the prior-year period to 92.8 percent, with the loss ratio
increasing 7.2 points to 59.5 percent and the expense ratio coming
in 0.6 points high