Profit plummets 48% at Zurich's UK business amid 'perfect storm'
Zurich UK general insurance CEO Vibhu Sharma has blamed “a perfect storm” of tough market conditions and greater the normal large losses for a plummeting business operating profit in the third quarter of 2015.
For Q3 the insurer's UK GI operation delivered a 48% reduction in operating profit, which shrank from £178.8m at the same point last year to £92.6m.
Zurich's combined operating ratio deteriorated by 7
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