Zurich Insurance 9M P&C Gross Written Premiums Rise; Expects To Meet 2023-2025 Targets

(RTTNews) - Zurich Insurance Group (ZURVY) reported Thursday that its nine-month Property & Casualty or P&C gross written premiums increased 8 percent to $34.59 billion from last year's $32.09 billion. The growth was 9 percent on a like-for-like or LFL basis.

P&C insurance revenue grew 9 percent on a reported and LFL basis from last year to $31.42 billion, driven by strong growth in commercial and retail insurance, supported by rate increases of 6 percent

In the first nine months, Life Present value of new business premiums or PVNBP went up 21 percent on a reported basis and 23 percent on LFL basis to $12.17 billion.

The company recorded PVNBP growth in EMEA, Asia Pacific and Latin America.

Farmers Exchanges gross written premiums grew 2 percent from last year to $20.64 billion.

George Quinn, Group Chief Financial Officer, said, "We maintained momentum in the third quarter, delivering continued top-line growth following a very strong first half of the year and a great start to the new financial cycle. This makes us confident that we'll be able to finish the year strongly and achieve our financial targets for 2023-2025."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.