Zurich Net Income Hits $912M in Q3

Zurich Insurance Group reported net income of $912 million for the third quarter, a 340% increase from net income of $207 million in the same period last year. For the first nine months of 2016, net income was $2.53 billion, up 11% from $2.27 billion in the prior-year period. In general insurance, the combined ratio for the nine months was 98.4%, an improvement from 101.9% in the prior-year period. General insurance gross written premiums declined by 3.3% in U.S. dollars. The company attributed the drop to re-underwriting and actions to improve performance announced last year. At the sa...