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The new plan to cut costs by $1.5 billion from 2015 through 2019 replaces a previous goal to save at least $1 billion by the end of 2018. (AP Photo/Keystone, Steffen Schmidt)

(Bloomberg) – Zurich Insurance Group AG raised its target for cost cuts and dropped plans to eliminate jobs as Chief Executive Officer Mario Greco overhauls Switzerland’s largest insurer. The shares rose.

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