Swiss Re says net income for the first nine months of the year grew to $US3.26 billion ($3.77 billion) from $US3.24 billion ($3.75 billion) thanks to a benign period for natural catastrophes and other major losses.

The figure includes $US1.23 billion ($1.42 billion) from the third quarter.

Nine-month net income from property and casualty reinsurance was $US2.39 billion ($2.77 billion), up 6.7%, and the combined operating ratio improved to 82.7% from 83.6%.

CEO Michel Liès says Swiss Re is on track to meet its financial targets.

“We’ve closed significant deals that show we can provide our clients with smart risk transfer solutions,” he said. “This result is proof that going the extra mile for our clients pays off, especially as the markets continue to be soft and economic conditions seem to become more uncertain.”