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Zurich reports record operating profit in first half; strong progress toward exceeding all 2025 targets Donnerstag, 08. August 2024 - 06:47

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Ad hoc announcement pursuant to Art. 53 of the Listing Rules
August 08, 2024

Zurich reports record operating profit in first half; strong progress toward exceeding all 2025 targets
  • Group business operating profit (BOP) up 7% to a record USD 4.0 billion; highest ever return on equity (BOPAT ROE) of 25.0%.
  • Net income attributable to shareholders rises 21% to USD 3.0 billion.
  • Property & Casualty (P&C) BOP of USD 2.2 billion is up 3% on a like-for-like1 basis, with a combined ratio of 93.6%.
  • Commercial P&C returns remain highly attractive with a combined ratio of 91.4%, Retail combined ratio at 96.4%.
  • Life BOP at record level of USD 1.0 billion driven by strong growth in Europe.
  • Farmers achieves highest ever BOP of USD 1.1 billion, up 12%; Farmers Exchanges2 combined ratio improved by more than 16 percentage points to 95.2%, despite significant catastrophe events.
  • Very strong capital position with Swiss Solvency Test (SST) ratio at 232%.3
Zurich Insurance Group

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Mythenquai 2
8002 Zurich
Switzerland

Phone: +41 (0) 44 625 21 00
E-mail: media@zurich.com
www.zurich.com

 
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