(Bloomberg) -- Zurich Insurance Group AG rose to the highest in eight months on higher profit at its largest unit, adding to signs that an overhaul at Switzerland’s biggest insurer is starting to bear fruit.
General Insurance, Zurich’s biggest source of premium income, saw first-half profit rise 3 percent to $1.2 billion, the company said in a statement on Thursday. Group net income declined and all the company’s other units reported a decrease in earnings.
“One can see from quarter to quarter how the restructuring is probably going to be successful, even though they said the main part of it would only take effect in the second half,” said Daniel Bischof, a Baader Helvea analyst with a buy rating on the stock.
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