Shares in Zurich Financial Services jumped as it said yesterday it would maintain its “attractive and sustainable” dividend policy.

The pledge came as the insurer, also one of the big institutional investors facing damage to portfolios from the recent market downturn, revealed second-quarter profit hit by catastrophes but ahead of expectations.

Net income rose 88 per cent to $1.33 billion, the Zurich-based insurer said.

General insurance business underpinned profits for the period. – (Reuters)