NU Online News Service, Nov. 3, 2:01 p.m. EDT

Global reinsurer Swiss Re says 2011 third quarter net income was $1.3 billion, up 118 percent from $618 million in the 2010 third quarter as the company saw positive contribution from all segments.

Stefan Lippe, Swiss Re's chief executive officer, says in a statement, “Our underlying earnings power is very strong and our conservative asset management approach is proving to be appropriate in these times of heightened financial market volatility.”

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