Zurich Insurance Group is set to beat its financial targets as it reached cost-cutting goals ahead of schedule, Europe’s fifth-biggest insurer said on Thursday.
Its first-half business operating profit (BOP) rose 16% to $2.8 billion (2.3 billion pounds), while its property & casualty (P&C) business operating profit rose 46% and its P&C combined ratio of 95.1% fell to its lowest level in the past decade, it said.
Zurich had said in May it was on track to meet or beat its financial targets to 2019.