Insurance company Swiss Re reports a Q2 net profit of $812M

Swiss Re Insurance Co. has reported a net profit of US$812 million for the second quarter despite payouts for two large-scale disasters.

The company recorded a net loss of $342 million during the same period last year.

Swiss Re says earnings per share were 2.56 Swiss francs compared to a loss per share of 1.13 francs in 2009.

The Zurich, Switzerland-based company said Thursday it made a loss in its core reinsurance business because of large payouts for the Chile earthquake and the Gulf of Mexico oil rig explosion.

In total Swiss Re paid out $830 million for those two disasters alone.