Tax RateBrightbridge Wealth Management Headlines: Zurich Financial Profit Drops 46% on Thai Floods, Tax Rate
posted by andtahkeo 78 days ago under brightbridge wealth management, brightbridge wealth management zurich, brightbridge wealth management headlines-zurich f, tax rate
Zurich Financial Services AG, Switzerland’s largest insurer, said fourth-quarter profit declined 46 percent after losses from Thai floods and other natural catastrophes.
Net income fell to $557 million from $1.04 billion a year earlier, the Zurich-based company said today in an e-mailed statement. This missed the $729.1 million average estimate of 11 analysts surveyed by Bloomberg. The company booked insured losses after reinsurance of $225 million in the quarter, said Chief Financial Officer Pierre Wauthier, adding that earnings were also crimped by a higher tax rate and a donation to charity. Zurich Financial said it will keep its dividend unchanged after increasing its 2010 payout to an 11-year high of 17 Swiss francs ($18.53) per share. « previous next » |
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