Zurich H1 profits drop 28% to $2.6bn

Business operating profit (BOP) at the company fell 28% to $2.6bn in H1 while net income reached $1.3bn, a drop of 53%. BOP for the discrete second quarter was $1.5bn, a 41% increase over the previous quarter, while net income was $892m, a 147% increase over Q1. It reports general insurance gross written premiums and policy fees of $18.2bn, down 11% or 2% in local currencies, and an almost unchanged combined ratio of 96.2% Global Life new business value after tax was down 3% to $332m but up 9% in local currencies. "The company is well on track to meet its operational improvement...