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Zurich Insurance full-year net profit rises 74 pct
February 9, 2017 / 6:03 AM / 10 months ago

Zurich Insurance full-year net profit rises 74 pct

ZURICH, Feb 9 (Reuters) - Zurich Insurance on Thursday posted a 74 percent jump in full-year net earnings as its core general insurance business rebounded under new chief executive Mario Greco.

The Swiss insurer increased net profit for the year to $3.211 billion, just short of the average estimate of $3.315 billion in a Reuters poll of 11 analysts. Fourth quarter profit climbed to $685 million, after a $424 million loss in the same quarter the previous year.

The insurer proposed an unchanged dividend of 17 Swiss francs for the year.

“We are on track to create a simpler structure, underpinned by smart investment and greater customer focus, that will ensure we are equipped to realize the Group’s full potential,” Chief Executive Mario Greco said in a statement. “These results show what we can accomplish and are an excellent start to achieving our 2019 financial targets.” (Reporting by Brenna Hughes Neghaiwi)

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