Zurich Financial Services AG, the largest insurer in Switzerland, has reported that its fourth-quarter profit showed little change despite major catastrophes in Australia. Analysts estimated that the net income for the insurer would come in at $1.02 billion, but Zurich is reporting an income of $1.04 billion. Zurich is planning to save more than $500 million over the next three years by making cuts to its general insurance business. The Australian floods have taken a heavy toll on the insurer, raising the combined ratio, a key measure of profitability, to…

Tag: Zurich Financial Services

Insurance giant reports unexpected fourth-quarter increase