Swiss Re Q4 fails to impress analysts

Swiss Re posted headline group fourth quarter net income of $938mn
to beat analyst consensus forecasts by 7 percent.
However, analysts noted weak underlying performance across the
results, which were also flattered by a one-off tax gain of $183mn
during the quarter.
The reinsurer's P&C net income declined 40 percent to
$703mn in Q4 as underlying combined ratios exceeded 100
percent.
Net earned P&C reinsurance premiums fell 5 percent to
$3.7bn, although the company noted earned premium de