Magazine date:
Oct 2015 Zurich Insurance has published decreasing quarterly results. As at 30 September 2015, the Zurich insurer who targeted a profit of 241 million USD suffered a 79% drop in its net result at 207 million USD; the latter was of 966 million USD during the same period of 2014.
These falling results are mainly accounted for by the Tianjin disaster (China) which occurred in August 2015 and whose cost amounted to 275 million USD for the Swiss insurer.
During the first nine months 2015, the combined ratio deteriorated by 12.3 points going from 96.6% at the end of September 2014 to 108.9% during the same period of 2015.