ZURICH (dpa-AFX) - Zurich Insurance Group AG (ZURVY) reported Thursday higher profit in fiscal 2025, with improved results in all segments.
Looking ahead, Mario Greco, Group Chief Executive Officer, stated, 'we are well on track to achieve or even exceed our 2027 targets, and position us well to capture future growth opportunities.'
Further, the firm proposed dividend increase of 7 percent to 30 francs per share.
In fiscal 2025, net income attributable to shareholders climbed 17 percent to $6.80 billion from last year's $5.81 billion. Earnings per share were 39.12 Swiss francs, up 11 percent from 35.33 francs a year ago.
Core earnings per share were $45.13, compared to $40.08 last year.
Business operating profit or BOP grew 14 percent to $8.86 billion from last year's $7.75 billion.
Property & Casualty or P&C BOP grew up 22 percent year-over-year to $5.13 billion, combined ratio improved to 92.6 percent.
Life BOP increased 2 percent to $2.3 billion, and Farmers BOP grew 4 percent from last year to $2.4 billion.
P&C gross written premiums and policy fees exceeded $50 billion for the first time, and reached $50.42 billion, up 8 percent from last year's $46.62 billion.
P&C insurance revenue increased 8 percent to $48.23 billion from $44.79 billion a year ago.
Life gross premiums grew 9 percent to $36.19 billion from $33.06 billion a year earlier.
In addition, the company said its Board will propose the election of Mary Forrest as director at Zurich's Annual General Meeting on April 8.
Further, the Board intends to appoint Jasmin Staiblin as Vice-Chair succeeding Christoph Franz, who will not stand for re-election as he has reached the maximum tenure of 12 years.
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