Zurich recovers from bond business drop

The insurer's life business reported a 42% drop in business profits last year as its bond business was impacted by the Retail Distribution Review (RDR), but has now reverted to profit growth posting £66m in H1 - up 10% on H1 2013. Overall, Zurich's global H1 operating profit was up 15% on last year, to $2.6bn. The UK life firm's annualised premium equivalent is also up 37% to £346m largely down to growth on the platform, corporate protection and Zurich's corporate savings business, which implemented a number of large schemes this quarter, the insurer said. Corporate savings was als...