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Zurich posts record profit; raises dividend; expects EPS growth to exceed 10% over cycle Donnerstag, 22. Februar 2024 - 07:30

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Ad hoc announcement pursuant to Art. 53 of the Listing Rules
February 22, 2024

Zurich posts record profit; raises dividend; expects EPS growth to exceed 10% over cycle
  • Group business operating profit (BOP) up 21% to a record USD 7.4 billion; highest ever return on equity (BOPAT ROE) at 23.1%
  • Earnings per share up 12% in USD and 20% on an adjusted basis1; net income attributable to shareholders rises 10% to USD 4.4 billion
  • Zurich reports strong growth across all businesses, and expects positive momentum to continue
  • P&C BOP grows 7% to USD 3.9 billion, up 10% on a like-for-like2 basis; combined ratio at 94.5%
  • Record-high Life BOP of USD 2.1 billion
  • Farmers BOP grows 10% to USD 2.3 billion; management actions drive Farmers Exchanges3 combined ratio in fourth quarter to 89.8%
  • Very strong capital position with Swiss Solvency Test (SST) ratio at 233%4
  • Proposed dividend increase of 8% to CHF 26 per share, supplemented by a share buyback of up to CHF 1.1 billion
  • John Rafter nominated for election to Board of Directors
Zurich Insurance Group

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