Zurich Insurance Group, decreasing indicators and 8000 jobs to cut

Zurich Insurance Group has planned to shed 8000 jobs. The fall of its indicators in 2015 stands as the main cause of this decision. The group's turnover went from 74.43 billion USD in 2014 to 67.99 billion USD thus, recording a 9% decrease in the Swiss group's activity in one year. Net income of the company also shrank by 53%, going from 3.9 billion USD in 2014 to 1.84 billion USD in 2015. As for the operating result, it fell by 37% standing at 2.92 billion USD in 2015.

Poor performance of Zurich Insurance Group in 2015 is mainly stemming from its non life subsidiary results. The latter's operating income dropped by 71% in one year and its combined ratio increased from 96.9% to 103.6%.

Sure of its Incapability to achieve a 12 to 14% return on equity in 2016, the Swiss group maintains the same dividend as that of 2014.