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Insurer registers record profits

The Swiss insurance giant Zurich Financial Services has posted record results for 2007.

Net profit rose by one-fifth to $5.6 billion (SFr 6.2 billion), the company announced on Thursday. It said that operating performances had been excellent in all segments of its business.

Last year the company made a number of small acquisitions in the face of weak market growth.

Despite what it described as “the difficult market environment”, Zurich said it was confident that it would continue to deliver good results in 2008.

Zurich Financial Services has offices in North America and Europe as well as in Asia Pacific, Latin America and other markets.

It was founded in 1872 and has its headquarters in Zurich. It employs approximately 55,000 people and has customers in more than 120 countries.

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SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR