Zurich's Q2 Net Income Falls 12%

Zurich Insurance Group on Thursday reported second quarter net income of $739 million, a 12% drop from net income of $840 million in the same period last year. For the first half of 2016, Zurich’s net income was $1.61 billion, down 22% from $2.06 billion in the first six months of last year. The decrease was due to a lower level of realized capital gains, restructuring charges related to turnaround plans and a higher effective tax rate, the company said in a news release. General insurance gross written premiums were $18.5 billion in the first six months of 2016, a 1% decrease from the...