(Corrects renewals in paragraph 5 to a net decrease, not increase, which is in line with decreases at competitors, not in contrast to competitors)
FRANKFURT (Reuters) -Reinsurance company Swiss Re said on Thursday that net profit for the first half of 2025 rose a better-than-expected 24%, and it maintained its targets for the full year.
The company cited low claims for large natural catastrophes in the second quarter after reporting a hit from Los Angeles wildfires for the first quarter, as well as a higher investment result.
Net profit of $2.605 billion in the period compares with a profit of $2.097 billion a year earlier.
Analysts had expected a profit of $2.472 billion, according to a consensus forecast.
Swiss Re reported a net price decrease in its midyear contract renewals of 2.4%, in line with price drops at top competitors Munich Re and Hannover Re.
(Reporting by Tom SimsEditing by Ludwig Burger)
