NU Online News Service, May 19, 6:08 p.m. EDT–Zurich Financial Services posted a 21 percent rise in total first quarter income, thanks to contributions from its financing unit and run-off businesses.
The Zurich, Switzerland-based insurance giant reported $779 million profit for its 2005 first quarter, up from $644 million one year ago.
Management said the financial picture was helped by improvements in its "Other Businesses" segment, which includes its alternative financing unit, Centre, and run-off businesses. The Other Businesses segment reported $124 million profit, up from a loss of $54 million a year ago.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
