Zurich Insurance Profit Increases 9% After New China Life Sale

by swisscham in Bank, Finance, Insurance

Zurich Insurance Group AG, the biggest Swiss insurer, said fourth-quarter profit rose 9% following a gain of about USD 543 million from selling its entire stake in New China Life Insurance Co. to Swiss Re Ltd. Net income increased to USD 1.07 billion from USD 988 million a year earlier, the Zurich-based company said today. That missed the USD 1.26 billion estimate of 14 analysts surveyed by Bloomberg. After lowering its profit goal in December, the company signaled it was ready to sell some businesses to bolster earnings growth. The insurer will keep its dividend unchanged at a 12-year high of CHF 17.00 (USD 18.94) a share, after increasing the payout to that level for 2010.

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Your Swiss Business Platform in China

SwissCham China has roughly 600 company members. Our Chamber maintains a strong relationship with the Embassy of Switzerland, Swiss Global Enterprise, Swissnex and Switzerland Tourism. As the representative of the Swiss companies established in China, our goal is to help you to increase your business and visibility, especially amongst the Sino-Swiss business community.

Become A Member

Sign Up For Our Newsletter

  • This field is for validation purposes and should be left unchanged.
September 28, 2021
Published By s-ge.com in Business
September 18, 2021
Published By Consulate General of Switzerland in Guangzhou in Bilateral Relations
September 10, 2021
Published By enics.com in Engineering / Manufacturing
September 3, 2021
Published By baselarea.swiss in Business
September 2, 2021
Published By moodiedavittreport.com in Hospitality / Tourism / Retail