The world's second-largest reinsurer, Swiss Re beat analyst expectations Thursday, but estimated that its loss from the Tianjin explosion could total $250 million before tax.
The company reported that its net income had climbed $1.4 billion in its third quarter. The reinsurer's net income increased by 12 percent, to $3.7 billion for the first nine months of 2015, with its chief financial officer, David Cole, telling CNBC there were three basic elements that secured the third-quarter figure.
"We have an incredibly strong, high quality underwriting portfolio; a very high quality, stable investment portfolio, and perhaps most importantly a unique, well diversified and very strong client franchise," Cole told CNBC Thursday.
The company is now dealing with the aftermath of "one of the largest man-made loss events in Asia to date", the Tianjin Blast, with Swiss Re expecting a hefty payout.