Pensions help Zurich Life’s operating profit to rise 35%

Zurich Life Ireland recorded an operating profit of €20.5m for the first six months of the year, which is a 35% increase on the same period in 2012.

New business for the first half of the year increased by 13% to €74.3m. Much of the increased demand came from the pensions business.

“The pensions landscape in Ireland is undergoing significant change, with many pension schemes restructuring and moving away from traditional defined benefit arrangements. In this environment, it is vital that the Government continues to support and encourage pension savings to avoid a future pension crisis for the current Irish workforce,” said chief executive of Zurich Ireland, Anthony Brennan.