Swiss Re sees revenues rise

SWISS Re, the world’s second largest insurance firm, posted positive second-quarter results yesterday – in spite of high payouts for the flooding that engulfed large parts of Europe and Canada earlier in 2013.

The firm said that all components of its business had contributed positively as net revenue jumped to $786m (£505m).

Although the number of payouts by the company rose, it said that it was on target to achieve its financial targets for 2011-2015.

Chief exec Michel Lies labelled the results a “robust performance”.