Swiss Re Ltd. reported consolidated earnings results for the first quarter of 2013. For the first quarter of 2013, the company’s net income increased 21% to USD 1.4 billion from USD 1.1 billion in the prior-year period. Premium and fee income increased 9% to USD 6.8 billion against USD 6.2 billion in the first quarter of 2012. Earnings per share increased to USD 4.02 compared to USD 3.33. The return on equity further improved to 16.6% in the first quarter of 2013, up from 15.3% in the prior-year period. Book value per common share increased from USD 95.87 to USD 97.80 at 31 March 2013.

Assicurazioni Generali S.p.A. has reportedly shortlisted SCOR SE and a US rival to sell Generali USA Life Reassurance Company among a large number of bidders, two people with direct knowledge of the situation said. Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft, Zurich Insurance Group AG, Swiss Re Ltd, Hannover Rück SE, Reinsurance Group of America Inc. and Everest Re Group Ltd. were also interested to buy Generali USA. Generali’s Chief Executive Officer, Mario Greco aims to raise €4 billion from non-core asset sales to shore up capital and restore value. Generali is hoping to secure $800 million to $1 billion for Generali USA an about €2 billion for BSI SA. Reuters reported that Generali declined to comment while SCOR was not immediately available for comment.

Swiss Re Ltd. announced that its board of directors would propose the election of Mary Francis as a new independent member of the board of directors for a three-year term of office at the company's upcoming AGM on April 10. Mary Francis has extensive experience in government and business at an international level. As a former Director General of the Association of British Insurers, she will add a deep understanding of the insurance industry to Swiss Re's Board of Directors. She is currently Senior Independent Director of Centrica Plc and a senior advisor to Chatham House. The board will also propose an ordinary dividend of CHF 3.50 per share and an additional special dividend of CHF 4.00 per share.