Zurich Insurance Posts 20% Rise In Profits For Q114
News: Switzerland-based Zurich Insurance Group's profit increased 20% year-on-year (y-o-y) in Q114 owing to capital gains on investments. Net income reached USD1.27bn in Q114 from USD1.06bn in Q113 and higher than the USD1.08bn-median estimate of four analysts surveyed by Bloomberg. Operating profit for the general insurance segment was up 5% y-o-y to USD845mn attributed to low catastrophe losses, while in the life segment, operating profit increased 4% y-o-y to USD319mn. 'We see some early positive signs in the execution of our strategic targets for 2014 to 2016', said the Chief Financial Officer George Quinn (Insurance Journal).