Zurich Insurance Posts Drop In Net Income

Zurich Insurance Group AG ZURVY posted a 3% drop in its 2014 net income. For the year, the company's net income slipped to $3.9 billion from $4.028 billion, while earnings per share fell to 23.84 Swiss francs from 25.23 francs. Its annual business operating declined 1% to $4.638 billion from $4.680 billion. Zurich Insurance's Q4 net income declined 20% to $858 million. However, analysts expected Q4 profit of $816 million. Business operating profit declined to $812 million from $1.113 billion. The company's board proposed a dividend of 17 Swiss francs ($18.29) per share. Zurich Insurance's shares fell 0.18% to close at $33.77 yesterday.