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Thursday, November 05, 2009
Zurich Finl 9-month Net Income Off 24%
By Robert Daniel
MarketWatch Pulse
TEL AVIV -- Zurich Financial Services Group reported that for the nine months, net income fell 24% to $2.2 billion. In general insurance, operating profit fell 3% to $2.51 billion, while gross written premiums and policy fees fell 10% to $26.32 billion. In global life, operating profit fell 6% to $1.16 billion. At Farmers Re, operating profit rose 14% to $1.13 billion as gross written premiums and policy fees more than doubled to $4.96 billion. And in group investments, which includes investment income and realized on losses and impairments, profit was $4.33 billion, down 9%.
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