Insurer Zurich Financial has claimed that its push to restore profitability is still on track, but warned that further restructuring is needed.
At Zurich's annual general meeting, chief executive Jim Schiro said: "We are on track."
Zurich is in the midst of an 18-month drive to restore profitability and investor trust, having completed over half of its planned 4,500 job cuts and made progress on refocusing on its core insurance operations.
Schiro warned: "The external environment in which the financial services industry is operating today is still unfriendly.
"Our (turnaround) programme is designed to insulate our core businesses from (the external risks) as much as possible. We are determined not to lose momentum in pursuit of our repositioning."
