Company profile: Swiss Re Southern Africa

Swiss Re’s operations in South Africa, and in most other African countries, performed well in 2001. But its operations in Zimbabwe were seriously affected by the political instability and economic problems gripping the country and substantial write-offs were required, although these did not unduly affect the company’s net result. Gross premium and fee income for the company’s combined property/casualty reinsurance, life/health reinsurance, and asset management operations rose by 9% to R1.7bn (US$137.8mn) while after-tax profits jumped by 81% to R424mn.