Zurich Insurance Group First-Quarter Net Income $607 Million

By Brian BlackstoneFeaturesDow Jones Newswires

Zurich Insurance Group AG (ZURN.EB) said its profit fell from a year earlier in the first quarter, but added that an improved economic outlook could help the company's prospects for the rest of the year.

The Swiss insurer said net income fell to $607 million in the first quarter from $875 million a year earlier.

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"Underwriting performance is improving and we have delivered another absolute reduction in expenses," said Chief Financial Officer George Quinn.

"The stronger economic environment is also delivering a better than expected investment performance and, given the cautious position that we took last year, could positively influence the rest of this year," he added.

Write to Brian Blackstone at brian.blackstone@wsj.com

(END) Dow Jones Newswires

May 11, 2017 02:09 ET (06:09 GMT)