30. May 2023
Olivier Aeschlimann, Senior Financial Analyst
Zurich Insurance started 2023 with strong revenue growth. Premiums in the Property & Causalty segment increased by 7%, thanks to commercial insurance and a favorable pricing environment. The retail segment also offered higher prices but was affected by cost increases and refunds. The Life sector recorded good growth in the volume of new contracts, but overall, the group is facing pressure on its margins. The Farmers division, which is exposed to natural disasters in the USA, faced reimbursement costs which affected its capital ratio. However, the group is confident in its ability to adjust its prices upwards and thus regain a level of margin and capital in line with its objectives. As of March 31, 2023, the solvency ratio stood at 258%, which is well above the minimum target of 160%.