Zurich Insurance Falls as Greco Fails to Convince on Growth
- One-time gains and lower disaster claims boost profit
- Company expects support from markets, rate increases in 2017
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Zurich Insurance Group AG fell in Zurich trading after posting a quarterly profit supported by one-time gains as Chief Executive Officer Mario Greco presses ahead with an overhaul of Switzerland’s largest insurer.
Net income for the three months through December amounted to $685 million compared with a loss of $424 million a year earlier due to restructuring costs and claims from storms in Britain and Ireland, the Zurich-based company said Thursday in a statement.