Zurich reports fall in GI profit but rise in COR


It attributed this to an improved underwriting result partially offset by lower investment income.

Zurich said that combined ratio improved to 96.8%, compared to 98.1% in 2008, due to careful underwriting practices and lower levels of natural catastrophe losses.

Gross written premiums and policy fees decreased 4% in local currencies, mainly driven by lower volumes in North America and difficult market conditions in Western Europe.

In a statement, Zurich said: “Across the segment’s commercial

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