NU Online News Service, May 7, 2:09 p.m. EDT

After reporting a net loss for 2008, Zurich, Switzerland-based carrier Swiss Re celebrated a return to profitability in the first quarter, despite a 76 percent drop in net income from the same period a year before.

For 2008, the company reported a net loss of CHF 864 million ($736 million at the time of its reporting) primarily based on investment losses.

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