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Zurich Insurance Pedestrians walk by the Zurich Insurance Group AG’s headquarters in Zurich, Switzerland. (Photo: Alessandro Della Bella/Bloomberg)

Zurich Insurance Group AG sees fourth-quarter losses related to Hurricane Michael of roughly $175 million and continues to target improvements in profitability in its North American business, according to a statement on Thursday.

Gross written premiums in the insurer’s Property & Casualty unit were flat at $25.87 billion and rose 2% in dollar-terms as Zurich continues to target profitability over volumes.

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