Zurich's shareholders today gave their backing at the company's EGM for a $2.5bn (£1.6bn) share issue, part of a major restructuring drive to restore profitability.

Zurich Financial Services chief executive James Schiro said: "I welcome the approval today of the proposed capital increase. We thank our shareholders for endorsing our action program to strengthen our capital base and improve our profitability. Now we will focus on implementation."

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