From January to September, gross written premiums in Zurich’s largest line, property and casualty (P&C) insurance rose 8 percent to $33.5 billion. In local currencies and on a comparable basis, the increase was 13 percent as the group announced on Thursday.
With volume in the demand business, Zurich was cut roughly as analysts expected. According to Zurich, one reason for the growth was high premium rates, particularly in the US business. Life insurance isn’t doing so well where new business value dropped an adjusted 11 percent.
Zurich also provided information on the costs of damage caused by hurricane “Ian” in the USA. It was stated that this amount was 550 million dollars net and pre-tax. Traditionally, Zurich does not provide any information on profit figures in the nine-month report. Next week, the group will also communicate goals for the next three years at Investor Day.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
