Zurich Insurance Swings to Profit, Beats Forecasts
February 09 2017 - 1:27AM
Dow Jones News
By John Letzing
ZURICH--Zurich Insurance Group AG (ZURN.EB) said on Thursday it
swung to a net profit of $685 million in the fourth quarter of
2016, compared with a loss of $424 million the same period a year
earlier.
Analysts had been expecting a net profit of $626 million.
The results compare with a period a year earlier when the top
leadership at Zurich Insurance was in transition, and its biggest
unit, general insurance, suffered a sharp decline in operating
profit.
The company said on Thursday that its general insurance unit
made an operating profit more than double in 2016 compared with the
prior year, to $2.4 billion.
-Write to John Letzing at john.letzing@wsj.com
(END) Dow Jones Newswires
February 09, 2017 01:12 ET (06:12 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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