Zürich Insurance: encouraging start to 2024

03. June 2024
-IAM, News

Olivier Aeschlimann, Senior Financial Analyst

The Zurich insurance group has started the 2024 financial year rather well. Although growth in the life insurance segment has remained at a standstill, “insurance revenue”, a key figure published for the first time as part of the conversion to IFRS last year, increased by 9% to USD 10.25 billion. Furthermore, in the “property and liability” segment, growth rose to 12%. Furthermore, the group’s SST solvency ratio stands at 234% and the S&P rating agency has confirmed Zürich Insurance’s credit rating at AA with a stable outlook. These encouraging results prompted the insurer to reiterate its financial objectives. The return on equity to operating profit is expected to reach at least 20% for the period up to 2025 and the group intends to continue to gradually increase its dividend, which amounted to CHF 26 per share for the financial year 2023.