Zurich Insurance 1st Half Net Profit Rose 19%
August 09 2018 - 1:34AM
Dow Jones News
By Pietro Lombardi
Zurich Insurance Group AG (ZURN.EB) said Thursday that its
first-half net profit rose sharply.
Net profit for the period rose 19% to $1.79 billion, the Swiss
insurance giant said.
Business operating profit in the first six months of the year
was $2.42 billion compared with $2.17 billion a year earlier.
Lower expenses and improved underwriting in its property and
casualty business, as well as portfolio growth in the life segment
boosted operating profit, the company said.
"We stand well on track to achieve all indicated targets by the
end of 2019. And we are progressing fast in the implementation of
the strategy we launched in November 2016," Chief Executive Officer
Mario Greco said.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
August 09, 2018 01:19 ET (05:19 GMT)
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