I have the previous generation of this camera, the 1030 SW. It's a really, really robust beast of a camera. It's been in water plenty of times. I've dived with it beyond 10 metres a few times.
In fact, it's been to 14 metres (worked perfectly), 16 metres (buttons wouldn't work beyond about 15 metres), and 19 metres and survived. 19 metres of seawater is lot of pressure, and it's really amazing the camera survives this, as most photography at that sort of depth involves specialist camera housings.
Under water it takes OK pictures. Nothing amazing, and back scatter from the flash ruins pictures unless the water is very very clear, or you are very close to your subject. But, being able to take a pocket size camera with you on a shallow dive is really great. If it can take being shoved in my BCD and spending 45 minutes below 10 metres, it can pretty much take anything.