Zurich Insurance may sell businesses in drive to boost profit
FRANKFURT Dec 5 (Reuters) - Zurich Insurance pledged to improve profitability and sell underperforming businesses over the next three years, as it cautioned it will miss some of the strategic goals it set for 2013.
"We will either turn around or exit those that are under-performing," Chief Executive Martin Senn said in a statement on Thursday ahead of a presentation to investors.
The company already said last month it would miss a 2013 profitability target in its largest unit, General Insurance, but was set to achieve its goals in global life insurance and expense management.
On Thuesday, the company said it aimed to pay an attractive and sustainable dividend, and said it was targeting a business operating profit after tax return on equity of 12 to 14 percent in 2014-2016, down from its previous stated target of 16 percent.
(Reporting by Jonathan Gould)