Zurich Financial Services (ZFS) reported a 35% rise in net profits for the first nine months of the year, despite being hit by a $400m after tax charge to cover claims arising from this year's hurricane season.
Income for the first nine months of the year was recorded as $1.9bn compared with $1.4bn in the same period last year.
The group also added a further $306m to reserves for prior year losses in the third quarter, bringing the nine-month total to $962m.
The company is aiming to save $200m this year, so far it has reported saving $180m.
ZFS chief executive James Schiro said it intended to save £500m in 2005 to support earnings in the wake of a softening market.
