Zurich Insurance posts drop in 2014 profit

Swiss group Zurich Insurance on said Thursday its net profit dropped 3 percent last year due to the sale of a Russian business and a tough economic environment. Chief Executive Officer Martin Senn said the results were "below expectations," saying the insurance industry was buffeted by "external headwinds" and a tough macroeconomic environment. Zurich Insurance spokeswoman Sylvia Gaumann also blamed the lower profit on a $247 million loss in the fourth quarter over the sale o