Zurich Insurance hit by Covid-19 amid rising commercial insurance rates

Insurers have been hit across the board by pandemic-related claims including for travel, business interruption, and event cancellation, in addition to life insurance. Picture: File picture

Zurich Insurance’s life insurance and property and casualty businesses have taken a hit from the Covid-19 pandemic, but rising commercial insurance rates will provide support, its CFO said as the company reported a 40% profit drop.

Insurers have been hit across the board by pandemic-related claims including for travel, business interruption, and event cancellation, in addition to life insurance.