0742 GMT - Zurich Insurance's first-quarter result was relatively underwhelming and is unlikely to lift shares, Morgan Stanley says in a research note. The Swiss insurer posted 5% growth in its property and casualty gross written premiums, in line with its annual guidance. However, some underlying trends surprised a little, with its North America premiums only edging up 1% despite a 6% rate change, analysts Hadley Cohen and Daniel Wilson-Omordia write. "This should be viewed as strong cycle management, which is clearly a good thing, but the key question will be how we should think about the profitability outlook from here," they note. Shares edge down 0.7% to 589.2 Swiss francs. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
May 08, 2025 03:42 ET (07:42 GMT)
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