Swiss Re reassures the track climbs.

Having strengthened its capital by three billion dollars, the No. 2 global reinsurance hopes to recover its AA credit rating from S & P.

Swiss Re, the world of reinsurance, has boosted its capital by about three billion dollars Thursday and expressed confidence in its ability to pay an expensive convertible loan contracted with Warren Buffett, which boosted the stock exchange.
The Swiss reinsurer has made a net profit better than expected first quarter and confirmed its target return on equity over the cycle.
The group said late March to have a capital in excess of over 12 billion against $ 9 billion at the end of 2009, which allows him to hope to regain its AA credit rating from rating agency Standard & Poor's.
Swiss Re is now more confident of being able to repay the investment by Warren Buffett, said its chief financial officer George Quinn, during a conference call.
The American billionaire was stolen last year to the rescue of Swiss Re, undermined by the financial crisis by injecting three billion Swiss francs through a convertible perpetual issue.
The title, which was down in early trade, has reacted strongly to these words and won more than 5% at 46.86 francs to 9:25 GMT.
In the first quarter, net income rose 22% to 158 million dollars (123.4 million euros), said the group first presented its results in dollars.
Analysts polled by Reuters were expecting a net profit fell to 78 million.
"We improved our operations in the first quarter despite the earthquake in Chile and the storm Xynthia in Europe. Such events may increase the volatility of our results," says CEO Stefan Lippe, quoted in the News result.
The combined ratio deteriorated to 109.4%, 90.2% from a year ago. The consensus was evident from 107.4%.
Premiums declined 13% to $ 4.97 billion, against 5.55 billion expected by markets.
The return on equity has deteriorated to 2.7%, against 2.9% a year ago. The equity have strengthened 0800000-26200000000 dollars.
The negative impact of the explosion of the oil rig Deepwater Horizon, at the end of last month in the Gulf of Mexico, is estimated at 200 million dollars before taxes (156.6 million euros). For the insurance industry is expected to reach between 1.5 billion and 3.5 billion Swiss francs (1.05 billion and 2.44 billion euros), says Swiss Re
Applications related to natural disasters would have an impact on the results of fiscal 2010, recognized the CFO during the conference call.