Zurich Sees First-Half Net Income Rise Despite Q2 Weather Losses

By propertycasualty360 | August 16, 2012 at 11:33 AM

Zurich Insurance Group says less severe catastrophe losses compared to last year and strong organic growth in Latin America, North America and the United Kingdom produced a gain in net income for the first six months of 2012.

NU Online News Service, Aug. 16, 3:33 p.m. EDT

Zurich Insurance Group says less severe catastrophe losses compared to last year and strong organic growth in Latin America, North America and the United Kingdom produced a gain in net income for the first six months of 2012.

However, weather losses did hit the insurer in the second quarter, leading to a decline in net income for the period for Zurich subsidiary Farmers Group.

Zurich says it achieved average rate increases of 3.5 percent.

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