The logo of Zurich Insurance is seen at a former office building in Zurich, Switzerland November 11, 2021.
REUTERS/Arnd WiegmannSummarySummary Companies H1 business operating profit $3.39 bln vs cons $3.28 blnP&C combined ratio at record level of 91.9%Zurich plans 1.8 bln Swiss franc share buybackBERLIN, Aug 11 (Reuters) - Zurich (ZURN.S) reported a better-than-expected 25% rise in operating profit to $3.39 billion in the first half on Thursday, with both its property and casualty and its life businesses outperforming.
Analysts had on average seen business operating profit at $3.28 billion, according to a company-compiled consensus forecast.
Rival Allianz's (ALVG.DE) earnings last week missed forecasts, though AXA (AXAF.PA) did better than expected, boosted by health insurance sales.
The group also announced on Thursday plans for a 1.8 billion Swiss franc ($1.91 billion) share buyback, to start in the coming months, to offset an expected earnings dilution from the agreed sale of the Germany life back book.
Maria Sheahan, Kirsti
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