Zurich Insurance Q3 Net Profit Down 62%

Zurich Insurance Group AG ZURVY reported a 62% decline in its third-quarter net profit. Zurich Insurance's quarterly net profit dropped to $477 million, from $1.24 billion, in the year-ago period. Its business operating profit fell to $733 million from $1.12 billion. Zurich Insurance's net profit for the 9 months declined to $2.7 billion from $3.2 billion. Zurich Insurance shares closed at $24.37 yesterday.