Global insurer Zurich Financial Services recorded a 21% rise in first-half net profit thanks to improved life insurance and investment returns.

“The quality of our results has improved with all core businesses and group investments contributing to the bottom line,” CEO Jim Schiro said.

First-half net profit came in at $US1.8 billion, up from $US1.484 billion in the first six months of last year. The general insurance operating profit increased 10% to $1.384 million.

And Mr Schiro says Zurich is now on the acquisition trail. “With a strong balance sheet we have positioned ourselves for growth in the future and we will look at all options available and we will be opportunistic.”