LONDON -Zurich Insurance posted a better than expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs , as insurers ride out the impact of a. -February 22, 2024 at 04:04 am EST
- MarketScreener
By Adria Calatayud Zurich Insurance Group said Wednesday that property-and-casualty insurance revenue rose in the first quarter, driven by an increase in premiums in North America. The. | May 17, 2023
Zurich Insurance expects continued revenue and profit growth in the next two years, its chief financial officer said on Thursday, after the Swiss insurer
Zurich 2020 Profit Drop of 8% Reflects Pandemic, Catastrophe Claims
Zurich Insurance’s new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher losses from natural catastrophes bit less than expected into full-year earnings.
Insurers have faced hefty claims from event cancellations and business interruption amid government lockdowns to curb the spread of COVID-19, while a damaging hurricane season in the United States put further pressure on earnings in the second half.
Zurich has been looking to raise premiums to help cushion the impact.
Full-year net profit of $3.83 billion – an 8% drop from 2019 – easily beat average expectations of $2.93 billion in the company’s own poll of 21 analysts, thanks to a strong pickup in pricing in the property and casualty business and late-year investment portfolio gains.