Zurich delivers satisfactory results for the first quarter of 2015

On 7 May 2015, Zurich Insurance Group reported satisfactory results for the first quarter ended 31 March 2015. Business operating profit (BOP) for the period was USD 1.3 billion, down 6% from USD 1.4 billion in the prior year period, largely due to a stronger USD; while net income attributable to shareholders (NIAS) was USD 1.2 billion, 4% lower than in the previous year.

This is a satisfactory result, though one that benefits from a benign catastrophe claims environment. When adjusting for foreign exchange movements our Group’s operating profitability is broadly flat relative to the prior year period. There are clearly some areas where we need to make improvements, and we continue to focus on efficiencies across the Group as well as on our turnaround businesses.