By Joshua Kirby
Zurich Insurance said Thursday that its operating profit fell in 2020 due to the impact of the coronavirus pandemic.
Full-year business operating profit at the Swiss insurer came to $4.24 billion, down 20% from $5.30 billion in 2019. Net income after tax attributable to shareholders fell 8% to $3.83 billion.
The coronavirus pandemic had a negative effect of $852 million on the result, the company said. However, the company said there was some recovery in the second half of the year.
Zurich said it is proposing a dividend of 20 Swiss francs ($22.46) a share for the year.
Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby
(END) Dow Jones Newswires
02-11-21 0123ET