Zurich profits plummet 42% on COVID-19 losses in first half of 2020

Swiss insurer Zurich Insurance Group's half-year 2020 profits declined 42 percent year-on-year due to losses stemming from COVID-19, higher catastrophe claims and civil unrest in the US, despite witnessing strong growth in its commercial business. The CEO, however, is confident that the group is well positioned to benefit from the improved pricing environment going forward.