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Insurer Zurich sees first-half profits surge

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Insurer Zurich sees first-half profits surge
Photo: Zurich Insurance Group
12:11 CEST+02:00
Swiss insurer Zurich Insurance Group said on Thursday net profit rose 13 percent in the first half of 2012 to $2.2 billion due to activities in emerging countries.

The profit was in line with expectations of analysts surveyed by the Swiss financial news agency AWP.

Business operating profit income climbed 17 percent to $2.5 billion and sales rose seven percent to $37.5 billion between January and June, Zurich said in a statement.

In the second quarter net profit 19 percent to $1.1 billion, with operating profit up 12 percent to $1.3 billion.

"We are successfully executing our growth strategy, as the increased contribution to business volume from the high-growth regions of Latin America, the Middle East and Asia Pacific shows, and we see promising delivery from selected mature markets," the company said.

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