Zurich says overhaul of business largely completed

ZURICH Thu Aug 7, 2014 12:59am EDT

ZURICH Aug 7 (Reuters) - Zurich Insurance Group posted a lower-than-expected rise in net income for the second quarter on Thursday and said it had largely completed its restructuring programme.

"While still early in our three year plan, we are on track for our 2014 to 2016 targets," Chief Executive Martin Senn said in a statement.

The Swiss insurer posted a net profit of $837 million for the second quarter of the year.

The firm was forecast to report quarterly net profit of $953 million, according to the average of six estimates in a Reuters poll of banks and brokerages. (Reporting by Alice Baghdjian)