Swiss Re swings to loss after repaying Buffett

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LONDON (MarketWatch) -- Reinsurance giant Swiss Re said Thursday that it swung to a fourth-quarter net loss of $725 million, from a profit of $395 million a year earlier. The loss was due to the early repayment of loans the firm received from Warren Buffett's Berkshire Hathaway Inc. during the financial crisis. Analysts had been expecting a loss of $400 million in the quarter. The group also lifted its dividend payout to 2.75 Swiss francs a share and said the critical January renewal period for property and casualty insurance had been "very successful."

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