Zurich Insurance has had a rather mixed start to 2018, with life insurance income rising but sluggish business in the key accident insurance division.
Switzerland's largest insurance company got off to a «good start», the company said in a statement on Wednesday. The life insurance division at Zurich saw turnover rising 13 percent from the first quarter of 2017 to reach $1.25 billion.
However, in the more important property and casualty unit, premium volumes slipped 1 percent to $9.3 billion. Growth in the Asia-Pacific and Latin American regions was largely offset by measures intended to boost profitability in North America, Zurich said. The company managed to increase its premiums by 2 percent across the division.
Interest From Allianz?
Claims related to natural catastrophes rose slightly above average for the first quarter. Zurich improved its capital position compared with the end of 2017, but didn’t release any profit figures.
Zurich didn't comment on the rumors that companies including Germany's Allianz may be interested in the Swiss insurer.
