Zurich Financial Services Group has reported an increase of 0.5 percent in return on common shareholders’ equity (ROE) in 2011.
ROE was 11.9 percent for 2011, compared with 11.4 percent during 2010.
However, the company’s business operating was down by 12.5 per cent on the previous year from $4.87 billion in 2010 to $4.26 in 2011. Net income for 2011 was $3.8 billion.
“We delivered a good result in a year characterized by natural catastrophes, including devastating earthquakes in Japan and New Zealand as well as exceptional weather-related losses around the globe,” said Martin Senn, chief executive officer of Zurich.
“This trend continued during the fourth quarter with flooding in Thailand and aftershocks in New Zealand. In challenging economic and market conditions, we maintained our focus on underwriting discipline while continuing to selectively grow the business.”