Zurich kicks off 2019 with a strong first quarter

  • Property & Casualty (P&C) gross written premiums up 4% like-for-like, with growth across all regions
  • Life annual premium equivalent sales up 2% and new business value up 5%, with new business margin at an attractive level of 25.6% on a like-for-like basis
  • Continued growth of Farmers Exchanges with gross written premiums from continuing operations up 2%
  • Zurich on track to meet or exceed all 2017 to 2019 targets
  • Capital position remains very strong

“We are pleased with the strong development of the Group over the first quarter of the year, underlining our focus on delivering on our strategy and financial plans. We expect to meet or exceed all of our targets this year,” said Group Chief Financial Officer George Quinn. “P&C pricing trends have improved in the first quarter and the Group’s Life business continues to perform strongly. Farmers Exchanges are also delivering on their key strategic priorities, positively impacting our fee income. The Group is well-positioned to meet the growing expectations of customers in the digital era and continues to strengthen its customer and partnership propositions by adding new distribution agreements.”

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Zurich UK CEO Tulsi Naidu talks about their 2018 financial results

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