09 maj: Pas på de skjulte forsikringer
13 maj: Nye produkter storsælger hos Pandora
10-05-2012 07:42:00

UPDATE: Zurich Profit Rises, Emerging Market Focus Paying Off

Relateret indhold

-- Net profit rises 78% to $1.14 billion, above forecasts

-- General insurance doing well, life insurance hurt by low interest rates

-- Volumes in some European countries declining

-- Expansion in Latin America, Asia helps drive volumes

(Adds detail in paragraphs 3, 5 and 7.)

By Anita Greil

Of DOW JONES NEWSWIRES

ZURICH -(Dow Jones)- Zurich Insurance Group AG (ZURN.VX) joined the growing ranks of insurers reporting solid first-quarter earnings Thursday and said it was starting to reap benefits from its expansion in growth markets in Latin America and Asia.

The Swiss insurance company said net profit rose 78% to $1.14 billion in the three months ended March 31 from $640 million a year earlier. Business operating profit, the figure the company prefers to gauge its performance, rose 61% to $1.38 billion from $854 million in the first quarter of 2011, while premiums and fees at its largest division, general insurance, of $10.47 billion were up 4% from a year earlier.

Net profit for the group increased on the back of a strong result at its general insurance division, which offset declining profit in life insurance, where lower interest rates hurt investment profitability.

Net profit was above analysts' estimates, while business operating profit was more or less in line.

"In Latin America, we already see the positive impact of the insurance businesses acquired from Santander," said Chief Executive Martin Senn in a statement.

Zurich last year expanded its presence in Latin America through a complex deal with Spain's Banco Santander SA (STD) and acquired an insurer in Malaysia. This new focus on emerging markets is starting to pay off, and helped offset declining volume in Europe, particularly in those countries hit most by the economic crisis.

Zurich Insurance is joining peers in reporting on a very strong first quarter, as the industry recovers from the many natural catastrophes that made 2011 one of the costliest ever for insurers.

As a result of the many natural catastrophes last year--which included the Japan tsunami and heavy floods in Australia and Thailand--insurers now appear to be able to ask for higher prices as demand for coverage is rising. Zurich said it increased prices for property & casualty insurance by 3% during the period.

With payouts to cover claims from big disasters falling sharply, the combined ratio--a measure of insurers' profitability--improved to 94.6% from 103.6%. A ratio below 100% suggests that an insurer is making a profit from underwriting contracts.

Zurich Financial shares closed at CHF217.80 Wednesday. The stock has gained more than 10% since the beginning of the year, better than the sector overall, which is up around 7% over the same period, as measured by the Stoxx 600 insurance index.

-By Anita Greil, Dow Jones Newswires; +41 43 443 8044 ; anita.greil@dowjones.com

(END) Dow Jones Newswires

May 10, 2012 01:42 ET (05:42 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Maersk Line får endnu en godkendelse til tysk opkøb

26-09-2017 14:21:14
Maersk Line, der er rederiet under Mærsk-koncernen, har forleden fået endnu en nødvendig godkendelse i forbindelse med den milliardstore overtagelse af tyske Hamburg Süd.Senest er det myndighederne i Brasilien, der har givet deres velsignelse af købet, fremgår det af en meddelelse fra Maersk Line.Dermed har Maersk Line indhentet godkendelser fra blandt andet USA, Australien, EU, Mexico, Tyrkiet, J..

Aktier/middag: Pandora trækker C20 ned efter analysenotat

26-09-2017 11:28:27
Smykkeproducenten Pandora er med til at trække det samlede eliteindeks ned tirsdag ved middagstid, hvor også Novo Nordisk, Lundbeck og Mærsk er blandt bundaktierne.C20 Cap-indekset falder 0,8 pct. til 1179,49, og den negative stemning er dermed mere tydelig end i resten af Europa, hvor flere store indeks ligger tættere på uændret.- Danmark er lidt hårdere ramt, og det kan måske forklares med de li..

Novo/Exane: Sænker anbefaling til "neutral" fra "outperform"

26-09-2017 06:34:01
Novo Nordisk har fået sænket anbefalingen hos finanshuset Exane til "neutral" fra tidligere "outperform, skriver Bloomberg News.Kursmålet er i samme ombæring justeret til 300 kr. fra 290 kr. Det er 2,8 pct. lavere end mandagens lukkeniveau, hvor Novo-aktien endte i 308,60 kr. efter en stigning på 0,9 pct., mens det er 0,9 pct. under analytikernes konsensusgennemsnit på 302,77 kr.Inden ændringen an..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Bavarian Nordic-aktien slikker sårene efter kæmpe tab - citat
2
Pandora/Carnegie: Kampagner og fremrykkede leverancer i USA bekymrer
3
Bavarian Nordic: Amerikanere øger shortposition
4
Aktier/åbning: Novo, Pandora og Mærsk tager fokus i negativt marked
5
Aktier/middag: Pandora trækker C20 ned efter analysenotat

Relaterede aktiekurser

Zurich Insurance N 285,20 -0,4% Fald i aktiekurs
Banco Santander S.A. ORD.. 496,50 -0,3% Fald i aktiekurs
Banco Santander 5,68 0,2% Stigning i aktiekurs
Banco Santander 5,68 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Morningstar.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
26. september 2017 16:39:59
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170926.1 - EUROWEB4 - 2017-09-26 16:39:59 - 2017-09-26 16:39:59 - 1 - Website: OKAY