Structured Product Losses Sink Swiss Re Profits

04 Nov 2008

Losses on structured credit-default swaps help sink third-quarter profits at Swiss Reinsurance.

Losses on structured credit-default swaps help sink third-quarter profits at Swiss Reinsurance. The world’s second largest reinsurer recorded a net loss of CH304 million (USD259 million) fuelled by a mark-to-market loss of CH289 million (USD248.6 million) on the CDS. As a result of the loss, Swiss Re said ...

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