Zurich Boosts Profit 21% in Q2 Despite 'Tough, Soft' P&C Market

Zurich Insurance Group has reported net income of $896 million in the second quarter, a 21% increase from $739 million in the second quarter of 2016. For the first half of the year, net income was $1.50 billion, down 7% from $1.61 billion in the first six months of last year. Property and casualty gross written premiums and policy fees were $18 billion in the first half of 2017, down 3% from $18.52 billion in the same period last year. The property and casualty combined ratio for the first half of the year was 99.5%, up from 98.1% in the prior-year period. Zurich Chief Executive Officer Ma...