Swiss Re has reported an improved profit of $802m during the second quarter of 2014, compared to $786m during the same period last fiscal.

For the first half of 2014, the insurance company registered a net income of $2bn against $2.16bn during the corresponding period earlier year.

Swiss Re group CEO Michel Li├Ęs said: "USD 2.0 billion profit in the first six months of 2014 is an impressive result.

"I’m especially pleased as it demonstrates our strong client relationships, and obviously translates well into shareholder value.

"We see the insurance market generally softening. Thanks to our leading position we continue to take advantage of opportunities as they arise – for example in high growth markets – and actively manage our overall portfolio."

For the second quarter ended on 30 June 2014, P&C Re delivered a net income of $553m compared to $455m during the corresponding period of 2013.

L&H Re net income for the second quarter stood at $48m compared to $154m during the same period last financial year.

Admin Re delivered marginal increase in net income which stood at $117m versus $109m during the same period a year ago quarter.