ZURICH, Switzerland—Zurich Financial Services Group earned a nine-month profit of $2.16 billion with assistance from a third quarter that that saw net income jump 490% to $909 million.

Despite the strong quarter, the nine-month profit was a 24% decline from the same period last year. Growth in the Zurich, Switzerland-based insurer’s global life business and its Farmers Management Services unit underpinned the third-quarter and nine-month profits, the company said in a Thursday statement.

Revenue at Farmers rose 8% to $1.97 billion in the first nine months of this year and its operating profit climbed by the same percentage, to $992 million. Global life new business value after taxes was up 2% to $520 million for the period.

Zurich’s gross written premiums and policy fees for general insurance were down 10% for the first nine months, to $26.32 billion. The combined ratio on that business improved to 96.9% during the period, compared with 98.7% in 2008. Zurich said a “benign catastrophe experience and strict expense management” was responsible for the improved ratio.