Swiss Re net profit down 85% in first half of year

FRANKFURT (Reuters) - Swiss Re posted an 85% fall in net profit in the first half of the year, the reinsurance company said on Friday, hurt by the effect of the war in Ukraine and volatile markets.

The net profit of $157 million compares with a net profit of $1 billion a year earlier, but it was better than analysts' expectations for a profit of $62 million.

(Reporting by Tom Sims; Editing by Paul Carrel)