May 9, 2018 / 5:01 AM / a year ago

Zurich Insurance Q1 P&C premiums rise 5 pct

ZURICH, May 9 (Reuters) - Zurich Insurance generated $9.33 billion in property and casualty premiums in the first quarter, up 5 percent in dollar terms but down 1 percent like for like as Europe’s fifth-biggest insurer focused on profitability, it said on Wednesday.

Gross written premiums for the property and casualty business were expected at $9.1 billion, according to a Reuters survey of three analysts.

“The group continues to make good progress toward our 2017 to 2019 targets and remains strongly capitalised after returning around $3.8 billion to shareholders year-to-date through the increased dividend and the previously announced anti-dilution measures,” Chief Financial Officer George Quinn said. (Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi)

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