Zurich Insurance is convinced that it will surpass the targets it set itself for the full year, having enjoyed an excellent first half, with a surge in operating profit.
Switzerland's biggest insurer in 2016 had defined a series of ambitious targets it wanted to meet over a three-year period, CEO Mario Greco said today. «We are proud to report that we are set to exceed all our targets and that the strategy is proving successful,» Greco added.
Operating profit at Zurich Insurance rose 16 percent to $2.8 billion compared with the same period in 2018. The combined ratio, a key figure in the insurance business, dropped to 95.1 percent in non-life – the best it has been in ten years.
New Targets to Follow in November
In the non-life unit, operating profit increased by no less than 46 percent, while growing in the single digits in the life business and at U.S. division Farmers.
Confident as it is to reach its goals, Zurich is now working to develop its new three-year plan. Greco will present the new targets at an investor conference in November.
