Zurich reports business operating profit slightly down in 2014
On
12 February 2015, Zurich Insurance Group reported its results
for the year ended 31 December 2014. Business operating profit
(BOP) for the year was USD 4.6 billion, down 1 percent compared
with 2013, while net income attributable to shareholders (NIAS)
was USD 3.9 billion, down 3 percent compared with prior year.
While we made good progress last year in executing the strategy
we set out in December 2013, we cannot be satisfied with our
2014 earnings. In General Insurance, we continue to make good
progress in improving our accident year profitability, although
the results show that we have still much to do in driving
further improvement across the book. In Global Life, we see good
momentum in our priority life markets.
In 2015, we continue to execute on our three strategic
cornerstones – prioritizing investment in distinctive positions,
managing other businesses for value and growing our operation
earnings, to improve our profitability and address the
challenges of a prolonged low yield and low growth environment.
Zurich also named Cecilia Reyes, Chief Investment Officer, as
Regional Chairman of Asia Pacific, succeeding Geoff Riddell, who
will be retiring and step down from the Group Executive
Committee effective end of March 2015.
To read more about Zurich's results, please visit
www.zurich.com
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