10th February 2019

Zurich reports strong 2018 performance

Zurich has reported 2018 financials-highlights are:
-Business operating profit(BOP) up 20% to $4.6bn and net income after tax attributable to shareholders up 24%
-Well on track to fully deliver on 2017 to 2019 targets with $1.1bn in cumulative net cost savings achieved, a business operating profit after tax return on equity(BOPAT ROE) of 12.1% and a very strong estimated Zurich Economic Capital Model(Z-ECM) ratio of 125%
-Proposed dividend of CHF 19, in line with dividend policy
-Continued investment in innovative customer-focused strategies; global footprint and access to distribution further strengthened
-Property & Casualty(P&C) BOP up 35%, with improved underlying underwriting performance in a challenging environment
-Life APE sales growth of 11% like-for-like, with BOP up 23% to $1.6bn driven by portfolio growth and reduced expenses
-Steady growth at Farmers Exchanges, with continuing operations gross written premiums up 4% and a record high customer net promoter score.
Group ceo Mario Greco comments “We are very pleased with the excellent progress achieved in 2018 in executing our customer-led strategy. We set challenging goals and are delivering against them. We have continued to strengthen our profitability and lower costs while growing our business, expanding our global footprint and broadening our range of innovative solutions to meet the changing needs of customers. This performance gives us great confidence as we enter the next phase of our development over the year ahead.”

Zurich Trends(742 articles)