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Zurich presented key figures for volume development in a new accounting order.
As part of IFRS 17 regulations, Zurich now also reports insurance income. The claims division, called insurance revenue or insurance sales, increased 7 percent in January-March to $9.41 billion, according to Wednesday’s statement.
Non-life insurance sales, calculated in local currencies, increased by up to 11 percent. Growth is driven by wage increases.
In life insurance, the quarterly update continues to focus on new business. Zurich estimates that the present value of bonuses from new business is $4.16 billion. This corresponds to an annual increase of 17 percent, or plus 23 percent, in local currencies.
Reporting on capital adequacy has not changed. Since Zurich estimated the Swiss Solvency Test (SST) rate at 258 percent after 267 percent at the beginning of the year.
(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.
