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Daily Insurance Industry News
Wednesday 18th of July 2018
November 15, 2012

Zurich reports weaker third quarter

by Richard Kilner

Story link: Zurich reports weaker third quarter

Zurich reports weaker third quarter

Zurich Insurance Group has reported its financial results for the first nine months and third quarter of 2012.

In the first nine months of the year the firm reported a business operating profit of US$3.2bn and net income attributable to shareholders of US$2.7bn.

This is a decline from the corresponding period last year, when the firm made an operating profit of US$3.3bn, with a net income of $3.2bn.

Third quarter business operating profit was US$733m, with net income attributable to shareholders of US$477m.

The quarterly results were significantly lower, year-on-year, than the previous results of US$1,117m operating profit and US$1,239m net profit.

Chief Executive Officer Martin Senn stated that the firm’s strong underlying profitability was proof that its strategy was delivering.

Senn added that he was pleased to see a robust performance in the US, as well as success in emerging markets in Latin America and Asia.

 

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