ZURICH: Zurich Insurance Group AG may have to pay out as much as US$750mil this year due to the coronavirus as it grapples with rising claims and volatile markets that have already triggered profit warnings at rivals.
Europe’s second-largest insurer by market value said the claims would hit its property and casualty unit, with US$280mil recognised in the first quarter. The estimate is subjected to significant uncertainty, Zurich said in a statement.
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