Zurich Financial Services posted gross written premiums of $11.1bn in its general insurance division for the first quarter of 2004, up 14% on 2003.
It recorded a combined ratio in general insurance of 96.9%, down from 98.1% for the same period last year.
For the overall business, net income rose substantially, from $134m to $702m, and the business operating profit was $942m, up 21% on the first quarter of 2003.
Zurich said all core businesses contributed to the improved performance.
Chief executive of Zurich Financial Services, James Schiro said: “The results reflect our continuing ability to manage our business to profitability.”
“We remain committed to disciplined underwriting in line with sound pricing and a tight grip on cost and expenses as we focus on creating shareholder value through superior products and services that help our customers manager risk effectively.”
