Zurich Reports 9% Gain in Quarterly Net

Zurich Insurance Group reported net income of $1.1 billion in the fourth quarter, a 9% gain from a year earlier. The insurer said its net income for the full year rose 4% to $4 billion, as its combined ratio improved to 95.5% from 98.4%.The company said its combined ratio benefited from fewer severe catastrophes, compared with 2012, while the underlying loss ratio for General Insurance improved through disciplined underwriting. Those improvements were somewhat offset by higher weather-related losses and a decline in investment income.For the year, General Insurance reported a 2% incr...