Zurich Posts Record First-Half Earnings

Zurich Financial Services Group on Wednesday reported a 21% increase in first-half earnings and a record profit for the first six months of 2005. Zurich credited robust underwriting management, tight expense controls and a strong balance sheet. Highlights included: *Net income of $1.79 billion, an increase of 21%. *A return on equity of 18.4%. *Business operating profit of USD $2.3 billion, an increase of 17%. *Gross written premiums in General Insurance of $18.6 billion, an increase of 1% and a combined ratio of 96.9%. *Business operating profit of $609 million, an increase of 10%. ...