Zurich Insurance surges as net income beats estimates on overhaul

Shares of Zurich Insurance Group AG headed for the biggest gain in more than four years after Switzerlands biggest insurer posted a first-quarter profit that beat analyst expectations.

By Jan-Henrik Förster, Dalia Fahmy | Updated on May 12, 2016

(Bloomberg) – Shares of Zurich Insurance Group AG headed for the biggest gain in more than four years after Switzerland’s biggest insurer posted a first-quarter profit that beat analyst expectations.

The stock rose as much as 8.3%, and was trading 8.1% higher at 233 francs as of 3:39 p.m. in Zurich, paring losses this year to 9.6%. A close at this level would mark the biggest one-day gain since August 2011. The Stoxx 600 Insurance Index rose 0.2%, reversing an earlier drop of as much as 1.4%.

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