Thus far, Zurich Financial has been able to weather the financial storm, facing volatile and competitive markets where prices are declining.
Said a spokesperson for Zurich Financial, "Particularly in view of today's market challenges, top and bottom-line results underscore the group's ability to executive on its stated strategy of profitable growth and operational transformation across all business segments.”
Zurich Financial’s gross written premiums and policy fees increased 8% to $20.6 billion.
Also, Zurich says it is on target to cut costs by $800 million annually until 2010, part of Zurich Financial CEO James Schiro's efficiency program enacted after Schiro returned the company from major losses sustained in the early 2000s.