ZURICH (dpa-AFX) - Zurich Insurance Group AG (ZURVY) reported Thursday that its first-half net income attributable to shareholders increased 14 percent to $2.04 billion from last year's $1.79 billion.
Earnings per share were 13.67 Swiss francs, up 18 percent from 11.57 francs a year ago. Business operating profit grew 16 percent to $2.82 billion from $2.42 billion in the previous year.
The results reflected underlying growth across the business and a strong underwriting performance in Property & Casualty.
Property & Casualty or P&C business operating profit climbed 46 percent to $1.66 billion. Life business operating profit dropped 8 percent on a reported basis, but grew 2 percent on a like-for-like basis.
P&C gross written premiums and policy fees were nearly flat at $18.56 billion, compared to $18.54 billion last year.
Life gross written premiums, policy fees and insurance deposits increased 7 percent to $18.10 billion.
Further, the company said it is fully on track to exceed all 2017 to 2019 Group targets.
Group Chief Executive Officer Mario Greco said, 'Based on what we have achieved, we can look to the future with confidence and optimism as we prepare to present our plans for the next three years at our Investor Day in London in November.'
Copyright RTT News/dpa-AFX
© 2019 AFX News
