Profit Decline at Zürich Austria

Professional ServicesFinancial Services ♦ Published: April 8, 2011; 11:07 ♦ (Vindobona)

The Swiss insurance group Zürich Versicherung managed to increase its premiums, but the results decreased.

Profit Decline at Zürich Austria / Picture: © Wikipedia / Zürich Versicherung Österreich

The Swiss insurance group obtained lower profits last year. The operating profits, which in 2009 had climbed to their highest level in eight years, decreased due to an increased provision requirement for equalization reserves of € 283m to € 24.3m. The annual net profit fell from € 21.9m to € 15.6m.

A total of € 30.6m were transferred as dividends to the Swiss parent…

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