ZFS

Zurich Financial Services (ZFS) gross non-life premium income grew by 6% to US$9.7bn and by 12% in local currency terms in the first six months of 2000. These figures exclude the premium generated by the Farmers Exchanges in the US. Aspokesman for ZFS said that there was a significant improvement in the non-life underwriting performance. The non-life combined ratio were reduced by 2.2% to 108%. This was mainly due to a sharp reduction in business acquisition and other expenses.