Geneva  - Zurich Financial Services reported Thursday second quarter profits of 892 million dollars, down from 1.25 billion dollars a year earlier.

Business operating profit stood at 1.5 billion dollars.

Net income for the first half was 1.3 billion dollars, a decrease of 53 per cent from the first six months of 2008.

Shareholders' equity reached 25.2 billion dollars, an increase of 14 per cent over its value at the end of last year.

Europe's fourth largest insurer said it was strengthening its ratio of cash on hand and was on track to meet its targets for the year. (dpa)