Zurich Insurance Q3 net profit misses poll

ZURICH Thu Nov 15, 2012 12:59am EST

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ZURICH Nov 15 (Reuters) - Zurich Insurance Group saw its net profit fall 62 percent in the third quarter, falling short of expectations.

Net profit for the firm amounted to $477 million, compared with $756 million forecasted in a Reuters poll of analysts.

Zurich took a $550 million hit to profit after a review showed its German arm had not set enough money aside to cover claims made years after policies expired, as it announced last month. (Reporting by Catherine Bosley)

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