Zurich Financial Services returned to profit in the third quarter with a doubling of its non-life insurance result.
Non-life gross premiums increased by 26% to $27.8bn in the first nine months of 2 ...
Zurich Financial Services returned to profit in the third quarter with a doubling of its non-life insurance result.
Non-life gross premiums increased by 26% to $27.8bn in the first nine months of 2003 from $22bn in the same period last year. This slightly beat the 22% increase in overall gross premiums, which grew to $37bn from $30.4bn.
Non-life's net income before tax and minority interests more than doubled to $1.7bn in the period from a loss of $1.5bn.
Again, this slightly outstripped the overall figure, which increased by about 186% to $2.5bn from a loss of $2.9bn.
The UK non-life combined ratio, which measures claims and costs as a percentage of premiums, at 97.5% showed an underwriting profit and beat the group's total, which was 98.2%.
Chief executive James Schiro said non-life insurance was now making "a strong operating profit."
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.
