ZURICH (dpa-AFX) - Zurich Insurance Group AG (ZURVY) reported Thursday that its nine-month property & casualty or P&C gross written premiums increased 2 percent to $26.44 billion from last year's $25.87 billion. Premiums grew 7 percent on a like-for-like basis, with further rate acceleration in the third quarter.
Life new business annual premium equivalent or APE fell 11 percent from last year to $3.17 billion. APE decreased 6 percent on a like-for-like basis, adjusting for currency movements, acquisitions and disposals.
The Farmers Exchanges, which are owned by their policyholders, recorded gross written premiums growth of 1 percent to $15.73 billion, with growth across all books of business.
Group Chief Financial Officer George Quinn stated that the company expects to exceed all of the targets that were set in 2016.
Copyright RTT News/dpa-AFX
© 2019 AFX News
