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Zurich Insurance plans revamp of general insurance unit


Zurich Insurance Group Ltd. is planning a reorganization of its general insurance unit and has said that it is planning to cut jobs and exit some businesses, reported Bloomberg.

The insurer's general insurance business recorded an operating loss of $183 million in the third quarter of 2015. The insurer is eyeing more reinsurance coverage for the unit and is likely to withdraw from a number of under-performing portfolios.

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