Switzerland, Zurich Insurance, lower profits in the first quarter 2016

Zurich Insurance reported a decrease of its net profit in the first quarter 2016. The reinsurer's result was of 875 million USD, down by 28%.

This decline is, however, below the predictions of analysts who announced an amount of 749 million USD.

This opposite stance to forecasts is also observed at the level of the operating profit. While it was announced at 971 million USD, the operating profit was set at 1 billion USD, down by 16%.

In the non life class of business, the Swiss reinsurer recorded a combined ratio of 97.7% for an operating profit of 542 million USD (-23%).