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Zurich posts record profit and highest ever ROE

Written by Adam Cadle
22/02/2024

Zurich’s group business operating profit (BOP) is up 21% to a record US$7.4bn, and the insurer has recorded its highest ever return on equity (RoE) at 23.1%.

P&C BOP has grown 7% to US$3.9bn, up 10% on a like-for-like basis, and a record high life COP of US$2.1bn has been recorded.

The insurer has recorded a Swiss Solvency Test (SST) ratio at 233%.

Group CEO Mario Greco said: “We delivered record returns in 2023, well ahead of all targets for 2023-2025, with particularly strong growth in P&C and life and highly effective management actions at the Farmers Exchanges.

“I expect this positive momentum to continue and to achieve EPS growth above 10% over the cycle.”


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