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Zurich Financial Q3 profit drops on US lawsuit

Zurich Financial Q3 profit drops on US lawsuit

Swiss insurer Zurich Financial Services Group says it third-quarter net profit was $751 million after paying out $295 million to settle a lawsuit in the United States.
Zurich reported a profit of $909 million during the same quarter of 2009.
The company said Thursday it was also hit by higher insurance payouts for natural disasters and weather-related damage during the July-September period.
The combined ratio for Zurich's general insurance business was 97.8 percent during the first nine months of the year compared with 96.9 percent during the previous year. A figure under 100 denotes profitability.


Updated : 2021-07-26 22:14 GMT+08:00