Zurich Insurance recorded a 42% decrease in its net result in H1 2020. The decline went from 2.041 billion USD as at 30 June 2019 to 1.181 billion USD a year later. The operating profit has shown a decrease of 40% which translates to 1.702 billion USD.
Such a decline in results is not only due to the coronavirus pandemic, but also to the financial market volatility, demonstrations in the United States and the increased damages caused by natural disasters in Europe and North America. The incurred losses related to Covid-19 were estimated at 686 million USD.
In non-life insurance, the result amounted to 751 million USD, thus decreasing by 55% compared to H1 2019. The combined ratio has increased by 4.7 points to reach 99.8%.
The result of the life activity dropped from 701 million USD to 559 million USD at the end of June 2020.
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