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Zurich's profit falls 42% in the first half to 1 billion


Zurich registered a net profit of 1,181 million dollars (1 billion euros) in the first six months of 2020, which represents a 42% drop compared to the gains achieved in the same period of the previous year.

The Swiss insurance group has also reported that their income plummeted 43% between January and June, up to 22,257 million dollars (18,838 million euros), due to the result of the investment area.

Net premiums and insurance commissions reached 19,212 million dollars (16,261 million euros), 1.5% less. The net gains from the investments contributed to the group income of 2,762 million dollars (2,338 million euros), 22.5% less.

On its side, the result of the 'unit-linked' plans, which unites investment and insurance plans, negatively impacted revenue at 1,715 million dollars (1,452 million euros), compared to the positive impact of 13,875 million (11,743 million euros) in the first half of 2019.

The cost of benefits granted by insurance were 13,654 million dollars (11,556 million euros), 2.9% more, while the costs of acquiring policies were 4,301 million (3,640 million euros), 2.5% more, and general expenses and administrative reached 3,847 million dollars (3,256 million euros), practically the same figure as in the first half of last year.

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