NU Online News Service, May 19, 6:08 p.m. EDT–Zurich Financial Services posted a 21 percent rise in total first quarter income, thanks to contributions from its financing unit and run-off businesses.
The Zurich, Switzerland-based insurance giant reported $779 million profit for its 2005 first quarter, up from $644 million one year ago.
Management said the financial picture was helped by improvements in its "Other Businesses" segment, which includes its alternative financing unit, Centre, and run-off businesses. The Other Businesses segment reported $124 million profit, up from a loss of $54 million a year ago.
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