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