Zurich Insurance posts lower-than-expected rise in profit
ZURICH Feb 13 (Reuters) - Zurich Insurance posted a rise in fourth-quarter net income on Thursday, but fell just short of expectations due in part to a restructuring charge.
The company reported fourth-quarter net income of $1.07 billion, just missing expectations for $1.28 billion in a Reuters poll of analysts.
Zurich recorded a $318 million restructuring and accounting charge in the fourth quarter, mainly due to a current review of its retail business in Russia.
The Swiss-based insurer, whose 6.4 percent dividend yield is already the highest among the companies in Switzerland's large cap index, said it would pay a dividend of 17 Swiss francs per share for 2013, unchanged from the previous year. (Reporting by Alice Baghdjian)