Insurance News from Zurich shows its profits diving by $550 million in Germany

insurance industry report

The Swiss insurer’s Q3 pretax profits will take a serious hit after coverage funding issues. Zurich Insurance Group, a Switzerland based insurer, has released its latest insurance news, which shows that its profits in Germany will be slammed by $550 million, pretax in the third quarter. This was the result of the insurer’s failure to put aside enough money to cover certain claims. Specifically it did not have the cash ready to cover the potential claims that occurred several years following the expiry of the policies. The insurer also stated…

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