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