Zurich Insurance FY19 Profit Rises, Lifts Dividend

Zurich Insurance Group AG (ZURVY) on Thursday reported that its fiscal 2019 net income attributable to shareholders increased 12 percent to $4.15 billion from last year's $3.72 billion. The company noted that attributable profit was the highest since 2010.

Earnings per share grew 13 percent to 27.51 Swiss francs from 24.28 francs a year ago.

Business operating profit climbed 16 percent to $5.30 billion from last year's $4.57 billion, driven by underlying growth across the business and a strong underwriting performance in Property & Casualty or P&C.

P&C gross written premiums and policy fees increased 2 percent to $34.18 billion, while Life gross written premiums, policy fees and insurance deposit was nearly flat at $33.48 billion.

Further, the company proposed a rise in dividend to 20 francs per share.

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