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Insurer Zurich sees first-half profits surge

AFP
AFP - [email protected]
Insurer Zurich sees first-half profits surge
Photo: Zurich Insurance Group

Swiss insurer Zurich Insurance Group said on Thursday net profit rose 13 percent in the first half of 2012 to $2.2 billion due to activities in emerging countries.

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The profit was in line with expectations of analysts surveyed by the Swiss financial news agency AWP.

Business operating profit income climbed 17 percent to $2.5 billion and sales rose seven percent to $37.5 billion between January and June, Zurich said in a statement.

In the second quarter net profit 19 percent to $1.1 billion, with operating profit up 12 percent to $1.3 billion.

"We are successfully executing our growth strategy, as the increased contribution to business volume from the high-growth regions of Latin America, the Middle East and Asia Pacific shows, and we see promising delivery from selected mature markets," the company said.

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