Swiss Market Report
December 17, 2018 / 6:28 AM / in a month

BRIEF-Zurich Insurance To Transfer UK Legacy Portfolio To Catalina

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Dec 17 (Reuters) - Zurich Insurance Group AG:

* SAYS TO TRANSFER UK LEGACY EMPLOYERS’ LIABILITY PORTFOLIO TO CATALINA

* PORTFOLIO INCLUDES GROSS LIABILITIES OF USD 2 BILLION

* TRANSACTION IS EXPECTED TO HAVE A SMALL NEGATIVE IMPACT ON BUSINESS OPERATING PROFIT IN THE FOURTH QUARTER OF 2018

* TRANSACTION IS EXPECTED TO HAVE A SMALL POSITIVE IMPACT ON ZURICH’S CAPITAL POSITION IN THE FIRST QUARTER OF 2019

* EXPECTS TO ACHIEVE AN OVERALL POSITIVE CONTRIBUTION TO THE BUSINESS OPERATING PROFIT OVER THE FULL PERIOD TO COMPLETION OF THE TRANSFER OF THE POLICIES Source text for Eikon: Further company coverage:

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