Swiss Re sees P&C income slide 22% for Q3

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Swiss Re has reported tumbling income from its property and casualty reinsurance arm, balanced by increased premiums in Q3.

The reinsurance giant saw net income plummet from $1bn in Q3 2012 down to $807m this year, a drop of 22%

Premium earned climbed 19.9% from 3.3bn to 4bn for the same period.

Swiss Re's combined ratio

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