May 3, 2019 / 5:21 AM / 2 months ago

BRIEF-Swiss Says Q1 Group Net Income Of $429 Million

May 3 (Reuters) - Swiss Re AG:

* GROUP NET INCOME OF USD 429 MILLION IN THE FIRST QUARTER 2019

* Q1 PROPERTY & CASUALTY REINSURANCE (P&C RE) NET INCOME USD 13 MILLION

* L&H RE POSTED RECORD FIRST-QUARTER NET INCOME OF USD 328 MILLION; ROE 19.6%

* Q1 ROI INCREASED TO 4.5% FROM 2.2% IN Q1 OF 2018

* FIRST TRANCHE OF PUBLIC SHARE BUY-BACK PROGRAMME TO BE LAUNCHED ON 6 MAY 2019

* FIRST TRANCHE OF ITS PUBLIC SHARE BUY-BACK PROGRAMME OF UP TO CHF 1 BILLION

* IN LIFE CAPITAL, WE ARE FOCUSING ON PREPARING THE POTENTIAL IPO OF REASSURE IN 2019

* Q1 NET PREMIUMS EARNED INCREASED BY 5.5% TO USD 8.8 BILLION, REFLECTING GROWTH ACROSS ALL BUSINESS UNITS. Source text - bit.ly/2ZRC5qJ Further company coverage: (Gdynia Newsroom)

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