May 9, 2019 / 5:04 AM / a year ago

Zurich Insurance Q1 reported premiums slip

ZURICH, May 9 (Reuters) - Zurich Insurance is on track to meet or beat its financial targets for 2017 to 2019, it said on Thursday while reporting first-quarter declines in premiums at its property and casualty (P&C) and life insurance businesses.

"P&C pricing trends have improved in the first quarter and the group's life business continues to perform strongly. Farmers Exchanges are also delivering on their key strategic priorities, positively impacting our fee income," Chief Financial Officer George Quinn said in a statement.

P&C gross written premiums fell 2 percent to $9.18 billion and were up 4 percent in local currencies and adjusted for acquisitions. Life annual premium equivalent fell a reported 6 percent to $1.18 billion, up 2 percent on a like-for-like basis. (Reporting by Michael Shields; Editing by Slke Koltrowitz)

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