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Zurich has replaced managers, renegotiated-loss making contracts and abandoned businesses seen as less important. (Photo: Thinkstock)

(Bloomberg) — Zurich Insurance Group AG will see improving results this year after taking steps to cut costs and overhaul units following unexpected losses at its general insurance unit, according to Chairman Tom de Swaan.

“The implementation of these measures is going according to plan,” he said at the company’s annual general meeting on Wednesday. “I am convinced that they will result in our once again realizing significantly better results this year. ”

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