Helvetia COR improves but IFRS profit down 21% due to “accounting effects”
The group's report said the negative IFRS result was "temporarily distorted by the accounting effects of acquisitions", which have recently included Nationale Suisse and Basler Austria.
Underlying
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Disappointment in discount rate
Zurich disappointed in new #discountrate. David Nichols, Ch Claims Officer: "The failure to change the discount rate to a balanced level will only serve to increase the cost and, therefore, affordability of certain types of insurance - especially for higher risk customers." pic.twitter.com/ac1CfBzfxX
— Zurich Insurance UK (@ZurichInsUK) July 15, 2019
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