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The Swiss reinsurance company Swiss Re reported in the first quarter about a decrease in net profit by 6.1% compared to the same period a year earlier to $429 million. According to economists, it was expected to grow to 657 million dollars. The decline was due to large payments for insurance claims related to floods in northern Queensland in Australia, the Cydone Idai in Mozambique, as well as the crash of Ethiopian Airlines Boeing 737 MAX aircraft. The property and accident insurance division recorded a drop in net profit to $13 million from $345 million in the same period of 2018. Net premiums rose by 5.5% to $8.8 billion. The corporate solutions division during the earnings period received a loss of $55 million, while a year earlier reported a profit of $41 million. Profit division life insurance and health insurance rose to 328 million dollars.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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