ZFS on target with first-half profit
Zurich Financial Services (ZFS) has posted a first-half net profit of $2.7 billion (SFr2.9 billion) - slightly up compared with last year.
Europe’s fourth-largest insurance group said on Wednesday it remained on track to achieve its efficiency targets.
Gross written premiums and policy fees rose eight per cent to $20.6 billion.
Chief executive James Schiro said the company was on course to cut costs by $800 million each year up to 2010 as part of an efficiency programme.
Schiro added that the results underscored the group’s ability to pursue its growth strategy despite difficult market conditions.
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