Zurich Insurance falls on weak Farmers biz result
BUZZ-Zurich Insurance falls on weak Farmers biz result Recasts buzz throughout with updated share move and comments
** Shares in Zurich Insurance ZURN.S fall 2% despite the firm increased life insurance biz outlook and globally posted a beat on H1 operating profit
** Analysts at Vontobel and Oddo BHF say that results in the Farmers business could drive the stock down
** Vontobel's analyst Matteo Lindauer also pointed to a slowing growth in North American commercial premiums and to Beazley BEZG.L reporting yesterday an halved profit before tax in H1
** Europe's second-largest insurer by market cap posted operating profit of $1.17 billion for Farmers, slightly below a company provided consensus of $1.20 billion on average
** "At first glance, these look like a decent set of results," RBC says
** Vontobel's focus, however, remains on the integration of Beazley: "The retention of Beazley's underwriters is key to a successful and accretive outcome"
** The stock, up 0.9% YTD ahead of results, has shed 1.2% this year
(Reporting by Paolo Laudani in Gdansk)