ZURICH (dpa-AFX) - Zurich Insurance Group (ZURN.SW) reported that Property & Casualty or P&C first quarter gross written premiums was $15.56 billion, up 8% on a like-for-like basis. On a reported basis, growth was 17%. Commercial Insurance grew 9% driven by Global Specialty and Middle Market. Retail was up 7%. Life delivered profitable growth as gross premiums increased 5% at excellent margins, with protection premiums up 9% on a like-for-like basis. Farmers underlying fee income was up 4%. Farmers Exchanges GWP was up 4%.
'Thanks to our strong capital position, we are well positioned to navigate the current uncertain environment and stay on track to meet or exceed our 2027 targets,' said Claudia Cordioli, CFO.
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