BRIEF- S.Africa's Zurich Insurance says FY net earned premium up by 10 pct

JOHANNESBURG Fri Feb 14, 2014 10:11am EST

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JOHANNESBURG Feb 14 (Reuters) - Zurich Insurance Company South Africa Ltd : * FY premium volumes grew from R3.8 billion to R4.1 billion, an increase of 8% * Says FY net earned premium improved by 10% to R3.2 billion from R2.9 billion

in 2012 * Says FY claims expenses increased by 16% to R2.5 billion (2012: R2.2 billion) * Underwriting FY result deficit of R455 million versus deficit of R258 million

in the prior year * Zurich insurance co South Africa - impact of deteriorating rand on cost of

motor claims in 2013 has been significant * Zurich insurance co South Africa - there is an expectation that cost

pressures from rand weakness will remain into 2014 * Attributable investment income decreased by 7% to R83 million * Zurich insurance co South Africa - commissions up 27% to R559 million due to

introduction of binder fees * Zurich insurance co South Africa -commercial portfolio suffered from

worse than expected property fires,3 weather events * Zurich insurance co South Africa ltd declared a gross final cash

dividend of 200 cents per ordinary share

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