Zurich Insurance 9M P&C Insurance Revenue, Gross Written Premiums Rise; On Track To Exceed Targets

Zurich Insurance Group

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(RTTNews) - Zurich Insurance Group AG (ZURVY) reported Thursday that its nine-month property & casualty or P&C insurance revenue grew 6 percent to $33.26 billion from last year's $31.42 billion. On a like-for-like basis, P&C insurance revenue increased 5 percent.

P&C Gross written premiums rose 4 percent to $36.13 billion from prior year's $34.59 billion, with growth in Europe, Middle East and Africa or EMEA, Asia Pacific and Latin America regions, while premiums were flat in North America.

In Life segment, present value of new business premiums or PVNBP increased 4 percent to $12.61 billion, and the growth was 6 percent on a like-for-like basis.

The Farmers Exchanges, which are owned by their policyholders, reported a 4 percent increase in gross written premiums in the first nine months to $21.53 billion. Gross earned premiums increased 5 percent to $20.89 billion.

The company said its nine-month results confirmed the continued strong momentum across all of Zurich's businesses.

Looking ahead, the firm is on track to exceed all current targets and look forward to presenting the new plan for the next 3 years at Investor Day on November 21.