Zurich expects 20% earnings drop

Johannesburg - Zurich Insurance Company South Africa said in a trading statement on Tuesday that its insurance result continued to be impacted by adverse underwriting conditions.

Basic earnings per share (EPS) and headline earnings per share (HEPS) were therefore likely to be lower than the previous year by more than 20%, it said.

"A range cannot be accurately estimated at this stage and shareholders are advised that a further trading statement will be issued in due course to provide earnings forecast ranges for EPS and HEPS," Zurich said.

- I-Net Bridge