ZURICH, Aug 4 (Reuters) - Swiss Re, the world’s second-largest reinsurer, said on Friday first-half net profit fell 35 percent to $1.2 billion, after outlays on claims from natural disasters such as Australia’s Cyclone Debbie compounded the impact of falling reinsurance prices.
The results were behind estimates, which averaged $1.35 billion in a Reuters poll of eight analysts.
Swiss Re’s property and casualty combined ratio, a measure of underwriting profitability, rose to 97.4 percent, slightly missing a Reuters poll average of 97.2 percent. A figure below 100 percent indicates a profit. (Reporting by Brenna Hughes Neghaiwi; Editing by Joshua Franklin)