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Zurich Says Targets Tougher to Meet as Profit Drops

Zurich Insurance Group cautioned that it would be challenged to meet certain performance targets after posting a 27 percent fall in second-quarter net profit due to natural disaster payouts.

By Alice Baghdjian and Martin de Sa'Pinto, Reuters | Updated on August 15, 2013

Zurich Insurance Group cautioned that it would be challenged to meet certain performance targets after posting a 27 percent fall in second-quarter net profit due to natural disaster payouts.

Zurich said it was on track to achieve its three-year performance targets for its life insurance business and spending cuts, but that meeting those for its general insurance and U.S. segment Farmers would be “more challenging”.

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