Swiss Re said net profits had risen 17% to $2.09bn in H1, roughly in line with expectations, ahead of analysts' expectations for a reading of $2.02bn as earnings got a boost from low claims for natural catastrophe and investment income.

Swiss Re noted that its digital white-label business that it was in the process of exiting continued to make a loss in H1 but said this had been partially offset by an 8% price rise in its latest round of insurance renewals on 1 July.

Chief executive officer Andreas Berger also said full-year net profits would likely exceed $3.6bn as Swiss Re maintained its full-year guidance.

As of 1005 BST, Swiss Re shares were up 3.79% at 115.10p.

Reporting by Iain Gilbert at Sharecast.com