Zurich Q2 operating profit beats consensus by 10%

Group business operating profit for the second quarter at Zurich
jumped 13 percent year-on-year to $1.2bn, beating analyst consensus
by 10 percent.
Baader Helvea analyst Daniel Bischof said in a note this morning
that the operating profit result was largely driven by a
better-than-expected performance in the "other" and
non-core segments of the business, which were $100mn ahead of
consensus.
This was driven by lower expenses and an in-force management
benefit from a closed life book, he added.
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