Zurich Insurance favors spending excess capital on acquisitions

George Quinn, CFO of Zurich Insurance Group Ltd., has said that the insurer would prefer spending its $3 billion in excess capital on acquisitions rather than returning the cash to shareholders, reported Bloomberg.

"Obviously we would like to invest in the future of the firm," Mr. Quinn said, adding that this "would influence our ability to grow, generate higher earnings and those would eventually lead to higher dividends."

Mr. Quinn said that the insurer will "invest in the markets that we currently sit in," rather than entering new emerging markets.

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