Zurich Insurance missed profit expectations in the fourth quarter due to restructuring charges, and said the total cost of an overhaul of its business would be about $600 million - the upper end of its forecast range.

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.

Swiss Re shrugged off the cost of floods in Europe to post better than expected second-quarter profit on Thursday and said it could beat its main annual performance target if claims remain stable in the second half.

Swiss Re shrugged off the cost of floods in Europe to post better than expected second-quarter profit on Thursday and said it could beat its main annual performance target if claims remain stable in the second half.

Zurich Insurance Group posted a fall in profits in the first quarter, with lower net releases of reserves compared with the prior year offsetting fewer natural catastrophes.