Zurich to cut costs
Big Swiss insurer Zurich Financial Services has announced a significant cost-cutting regime, according to reports out of Europe.
The reports said that the insurer had announced that it intends to cut costs by $500 million over the next three years, with two-thirds of the savings coming from its non-life business.
The announcement followed on from the company reporting a 22 per cent decline in operating profit for the first nine months of the year.
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Mike Taylor
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