Zurich Insurance Rises as Greco’s Reorganization Gains Traction
- General Insurance unit posts first-half profit increase
- Efficiency program ‘beginning to deliver results,’ Greco says
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Zurich Insurance Group AG rose to the highest in eight months on higher profit at its largest unit, adding to signs that an overhaul at Switzerland’s biggest insurer is starting to bear fruit.
General Insurance, Zurich’s biggest source of premium income, saw first-half profit rise 3 percent to $1.2 billion, the company said in a statement on Thursday. Group net income declined and all the company’s other units reported a decrease in earnings.