Zurich Insurance Group First-Quarter Net Income $607 Million
May 11 2017 - 2:24AM
Dow Jones News
By Brian Blackstone
ZURICH--Zurich Insurance Group AG (ZURN.EB) said its profit fell
from a year earlier in the first quarter, but added that an
improved economic outlook could help the company's prospects for
the rest of the year.
The Swiss insurer said net income fell to $607 million in the
first quarter from $875 million a year earlier.
"Underwriting performance is improving and we have delivered
another absolute reduction in expenses," said Chief Financial
Officer George Quinn.
"The stronger economic environment is also delivering a better
than expected investment performance and, given the cautious
position that we took last year, could positively influence the
rest of this year," he added.
Write to Brian Blackstone at brian.blackstone@wsj.com
(END) Dow Jones Newswires
May 11, 2017 02:09 ET (06:09 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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