Zurich profit hit by restructuring charges
General insurance business operating profit increased by 3% to $2.2m on a steady combined operating ratio of 98.4%.
Zurich reported a 22% drop in profit for the first six months of the year, hit by lower levels of capital gains, restructuring charges and a higher level tax rate.
The Switzerland based provider said after tax profit fell to $1.6bn (£1.23bn), from $2.1bn (£1.62bn) in last year's second half.
The company said restructuring programs were initiated during the six months ended 30 June with estimated costs of $53m.
Restructuring
Mainly general insurance in North America and Europe were impacted, it
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