Zurich back in black with 93% jump in operating profit
Zurich Financial Services has returned to profitability with an increase in income to £1.1bn for ful...
Zurich Financial Services has returned to profitability with an increase in income to £1.1bn for full-year 2003 - up from a loss of £1.8bn in 2002.
Business operating profit for the group stood at £1.2bn, up 93% from 2002, with return on equity after tax almost doubling from 5.1% to 9.3%.
General insurance premiums amounted to £19.4bn - up 22% from 2002 - while the combined ratio of 97.9% represented an improvement of 5.6% before 2002 special provisions. However, Standard & Poor's left ZFS's
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