ZURICH, Feb 9 (Reuters) - Zurich Insurance on Thursday posted a 74 percent jump in full-year net earnings as its core general insurance business rebounded under new chief executive Mario Greco.
The Swiss insurer increased net profit for the year to $3.211 billion, just short of the average estimate of $3.315 billion in a Reuters poll of 11 analysts. Fourth quarter profit climbed to $685 million, after a $424 million loss in the same quarter the previous year.
The insurer proposed an unchanged dividend of 17 Swiss francs for the year.
“We are on track to create a simpler structure, underpinned by smart investment and greater customer focus, that will ensure we are equipped to realize the Group’s full potential,” Chief Executive Mario Greco said in a statement. “These results show what we can accomplish and are an excellent start to achieving our 2019 financial targets.” (Reporting by Brenna Hughes Neghaiwi)