Zurich: Reinsurance giant Swiss Re reported a sharp jump in net profit for the first half of the year despite the costly wildfires that ravaged Los Angeles. The group, which serves as an insurer of insurance companies, stated that its profit after tax reached $2.6 billion in the first six months of 2025, marking a 24 percent increase from the same period last year.
According to Bangladesh Sangbad Sangstha, claims from natural disasters amounted to $556 million, primarily due to the Los Angeles blazes in January, as highlighted in Swiss Re’s earnings statement. However, the company noted a reduction in claims for large natural catastrophes during the second quarter.
Swiss Re announced it is maintaining its earnings target for the full year, anticipating a net profit of $4.4 billion. “Given the broad geopolitical and macroeconomic uncertainty, and as we enter the peak of the wind season, we remain vigilant,” stated chief executive Andreas Berger.