Earnings per share for the recent quarter were CHF 4.07, lower than CHF 6.77 in the prior-year quarter.
Results were impacted by the significant catastrophe events in the Asia-Pacific region during the first three months of the year. Aggregate losses of $517 million were recorded for the five natural disasters in Australia, New Zealand and Japan, the company added.
Also, Zurich announced the signing of a Memorandum of Understanding with Deutsche Bank to extend an existing exclusive distribution agreement for life and general insurance products in Germany for a further 10 years until December 31, 2022. Zurich and Deutsche Bank plan to complete definitive deals during 2011.
Click here to receive FREE breaking news email alerts for Zurich Financial Services and others in your portfolio.
Also, Zurich announced the signing of a Memorandum of Understanding with Deutsche Bank to extend an existing exclusive distribution agreement for life and general insurance products in Germany for a further 10 years until December 31, 2022. Zurich and Deutsche Bank plan to complete definitive deals during 2011.
ReplyDelete