Churchill Insurance parent, Credit Suisse Group (CSG), has reported a 77% jump in its first-quarter net income to SFr652m (£302m).
The Swiss group's general insurance operations reported a SFr239m (£110m) increase in its segment profit to SFr92m (£42.6m). Net premiums earned rose by 6% to SFr4bn (£1.85bn).
The company also revealed that - after acquisitions, divestitures and exchange rate impacts - it has expanded its premium volume by 13%. Its combined ratio also improved by 3.2% to 100.7%.
Co-chief executive of Credit Suisse Group and chief executive of Credit Suisse Financial Services, Oswald Grübel said: "Credit Suisse Group's first quarter results demonstrate real progress on our goal to return the group to profitability in 2003.
"In addition, we are pleased that all of Credit Suisse financial services' segments improved their results in the first quarter, reflecting our targeted measures to reduce costs and adapt the business to prevailing market conditions."
