Best Notes Zurich 1st Half Results

A.M. Best Co. has commented that all ratings of the Swiss-based Zurich Financial Services Group (ZFS) “remain unchanged following the announcement of the 2005 half-year results,” (See IJ Website Aug. 19).

Best said the earnings were In line with its expectations. ZFS reported a post tax result for the 2005 half year of almost $1.8 billion, an improvement of $300 million over the same period last year.

“The result reflects higher investment returns and an improved performance on ZFS’s life business. The reported consolidated combined ratio for the half year was 96.9 percent, compared with 96.6 percent for the 2004 half year, despite competitive pressure on premium rates during the period,” Best noted.