Zurich Insurance closed 2.7 percent down after reporting a $424 million net loss in the fourth quarter, a bigger loss than analysts had expected.
However, Swedish drugmaker Meda saw shares skyrocket over 67 percent, after rival Mylan said it would acquire the firm in a $7.2 billion cash-and-stock deal.
Miners were once again be in focus amid low metal prices. Rio Tinto suffered a net loss of $866 million in 2015 and said it was scrapping its "progressive dividend policy". Shares were off 3.4 percent.
Other names in the sector were dragged down as well, with Boliden and Glencore off 16 and 6.2 percent respectively.
The gold price however has got support in recent days, last trading over 4 percent up, as investors flock to the precious metal as a safe haven.
Gold miner Randgold Resources and precious metals firm, Fresnillo both jumped over 7 and 5 percent respectively on Thursday.