Swiss insurer Zurich Insurance Group has reported a 64% rise in third-quarter profits.

Net income was $US1.1 billion ($1.17 billion), up from $US672 million ($720.23 million) in the corresponding period last year.

For the nine months to September 30 the figure was $US2.95 billion ($3.16 billion), up 2%.

General insurance operating profit for the nine months also gained 2% to $US2.12 billion ($2.27 billion), while gross written premium increased to $US28.18 billion ($30.2 billion) from $US27.31 billion ($29.27 billion).

An improved underwriting result was partially offset by lower investment income and losses from weather-related events including floods and hail in Europe and tornadoes and floods in North America.

The combined ratio improved one percentage point to 95.3%.

Global life business operating profit increased 1% to $US978 million ($1.05 billion).

CEO Martin Senn says the company has delivered “a solid operating profit in all core segments. Against the backdrop of a fragile global economic recovery and persisting low interest rates, we remained focused on our strategy, growing our business in emerging markets while delivering a resilient performance in mature markets.”

Figures for Zurich’s local operations were not available.