Zurich Insurance coverage Group has reported robust efficiency within the first quarter of 2025 (Q1 2025), pushed by development throughout its property and casualty (P&C), life and farmers sectors.
The corporate’s P&C gross written premiums (GWP) rose by 5% to $13.3bn, up from $12.6bn the earlier yr, supported by a 4% improve in premium charges.
The life sector noticed an 18% improve in GWP, reaching $9.3bn, in contrast with $7.9bn within the prior-year quarter.
Farmers exchanges reported a 5% rise in GWP, amounting to $7.4bn.
Zurich’s Swiss Solvency Take a look at (SST) ratio stood at 256% as of 31 March 2025, up from 253% the earlier yr.
New enterprise premiums grew in Europe, the Center East and Africa, surging by 44% on a like-for-like foundation.
This was attributed to retail financial savings development in Spain, unit-linked merchandise in Italy and safety merchandise in Switzerland.
North America’s new enterprise premiums greater than doubled, pushed by unit-linked gross sales, the corporate highlighted.
Nevertheless, the Asia-Pacific area noticed a 20% decline in new enterprise premiums on a like-for-like foundation because of repricing actions in Japan and the timing of group scheme renewals in Australia.
Latin America’s development was propelled by unit-linked gross sales by the three way partnership with Banco Santander.
Q1 additionally witnessed pure disaster losses, with a mixed ratio influence of three.2%, in contrast with 1.6% in the identical interval final yr.
This improve was attributed to the California wildfires in January.
Zurich Group chief monetary officer Claudia Cordioli mentioned: “Our companies began the yr positively, delivering income development, underpinned by a powerful capital place and increasing margins. With our geographically diversified enterprise, excellent observe report and sturdy stability sheet, I’m assured that we are going to proceed to ship on our targets regardless of the risky surroundings.”
The insurer reported a internet earnings attributable to shareholders after tax of $5.8bn in 2024, a 34% improve from 2023.
