Zurich (awp) – The action of the insurer Zurich Insurance was sought after by investors on Thursday on the Swiss Stock Exchange, after having revealed rising premiums in all its activities, and partly higher than forecasts, over the first nine months of the year.
Around 9:15 a.m., Zurich Insurance shares rose 1.0% to 526.00 Swiss francs, in a flagship SMI index up 0.37%.
Jefferies analysts noted the low damage costs suffered by the Zurich insurer, compared to its peers. In the third quarter, the company recorded charges of $160 million related to Hurricane Helene. For Storm Milton, costs in the fourth quarter are estimated at less than $200 million before taxes.
As for the activity with the American partner Farmers, insurance premiums for seeds in the United States weighed 500 million dollars on the group’s revenue. But “this has no impact” on the group’s performance, they added.
Experts from the Zurich Cantonal Bank, for their part, applauded the “solid evolution of volumes” and “advantageous announcements” over the first nine months of the year. The increase in premiums in general insurance was notably supported by price increases, while new business supported life insurance, they added.
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