• 15-MAY-2014

  • SOURCE: Zurich

Zurich delivers solid results for the first quarter 2014

George Quinn, Chief Financial Officer
Zurich, May 15, 2014 – Zurich Insurance Group (Zurich) today reported a business operating profit (BOP) of USD 1.4 billion and net income attributable to shareholders (NIAS) of USD 1.3 billion for the three months ended March 31, 2014.

"This is a solid start to the year," said Chief Financial Officer George Quinn. "We see some early positive signs in the execution of our strategic targets for 2014 to 2016 but there is still much to do. As announced in March, we are implementing a program to streamline the company, removing management layers between Group and the business units and empowering our people to act decisively in delivering first-class services to our customers. Global Life is progressing as planned and the development trend at Farmers is positive, while our General Insurance business reported a good Combined Ratio, benefitting from a relatively benign catastrophe environment and a one-off pension gain."