Zurich Insurance, rocked by the suicide of its finance chief less than three months ago, said on Thursday it would miss a year-end profitability target in its largest unit General Insurance.
Zurich's targets were at the heart of a disagreement between the insurer's ex-chairman Josef Ackermann and Chief Financial Officer Pierre Wauthier, who sources said wrote about the friction in a note before taking his life in August.
Zurich said the unit, which includes property, car and other non-life areas, would miss its goal of improving its combined ratio, a measure of profitability, by 3 to 4 percentage points compared with competitors.
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