ZURICH, May 10 (Reuters) - Switzerland's Zurich Insurance Group beat expectations on Thursday with a 78 percent rise in first-quarter profit, helped by fewer large natural catastrophes than the year before, and said premiums were set to rise.
Europe's second-biggest insurer by market capitalisation recorded a net profit of $1.14 billion for the first three months of the year. A Reuters poll of analysts forecast a net profit of $997 million.
“A thoroughly solid quarterly showing by the insurer,” analysts at Notenstein private bank said. “Longer term the prospects for Zurich seem to be intact.”
German rival Allianz also saw a favourable start to the year.
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