The world's largest insurance group reported a profit in 1 quarter

The biggest insurance group in the world, Swiss Re reported that its profit in 1 quarter of 150 million francs, after having recorded the largest annual loss. "We are pleased to announce that Swiss Re was able to recover and make a profit in the first quarter of 2009," said Stefan Lippe, head of the group.
Net income, equivalent to 99 million euros or 132 million dollars, showed 76 per cent decline from 600 million francs made in the first quarter of 2008. This was an increase after the annual loss in 2008 to 864 million francs.