New Swiss Re CEO Named

Also today, the company announced first half 2005 net profits fell 6% from the same period last year, to $1.06 billion.

London-based Fitch Ratings director Damir Bettini says the company’s earnings were in line with his expectations.

As for the company’s claim that a drop in premiums was due to its cycle management techniques, Bettini says the real test will be in the next couple of years as competition on pricing and terms and conditions intensifies.

“However, there are signs from a number of players, Swiss Re included, that this time around there may be somewhat more discipline than in previous cycles,” he says.