Insurer to take blow in third quarter
Zurich’s third-quarter operating profit will be hit by a $550m (£340m) pre-tax charge.
The adjustment is related to the company strengthening claims provisions for its German business and writes off related to acquisitions.
The insurer said in a statement: “Zurich’s leadership is disappointed with this significant financial adjustment and has taken the necessary steps including engaging external experts to validate the remediation actions being taken in Germany.”
The estimated after-tax write-down is $390 million, according to Reuters.
The Swiss insurer said overall the business was on track to deliver targets.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
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