Zurich Insurance Surges as Net Beats Estimates on Overhaul
- Stock heads for biggest one-day advance since August 2011
- New CEO Greco says company needs clear direction, stability
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Shares of Zurich Insurance Group AG headed for the biggest gain in more than four years after Switzerland’s biggest insurer posted a first-quarter profit that beat analyst expectations.
The stock rose as much as 8.3 percent, and was trading 8.1 percent higher at 233 francs as of 3:39 p.m. in Zurich, paring losses this year to 9.6 percent. A close at this level would mark the biggest one-day gain since August 2011. The Stoxx 600 Insurance Index rose 0.2 percent, reversing an earlier drop of as much as 1.4 percent.