Homes destroyed by the Eaton Fire in Altadena, California. (Photographer: Kyle Grillot/Bloomberg)
(Bloomberg) — Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported a 5% gain in profit for 2024.
Group operating profit rose to $7.75 billion in the year, the company said in a recent statement, beating the $7.64 billion consensus analyst estimate. Net income increased 34% from a year earlier to $5.81 billion. Shares rose as much as 3.2%.
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