Zurich reports highest BOP since 2007

Written by Adam Cadle

10/02/2022

Zurich has reported its highest business operating profit and net income attributable to shareholders since 2007.

Group business operating profit (BOP) rose by 35% to US$5.7bn in 2021, and net income attributable to shareholders rose by 36% to US$5.2bn.

P&C BOP rose by 50% to US$3.1bn and life BOP rose by 27% to US$1.8bn on higher fee revenue and investment results.

Zurich also recorded a strong capital position with Swiss Solvency Test (SST) ratio at 212%, an increase of 31 percentage points over the prior year and well in excess of the group’s target for an SST ratio of 160% or above.

The net investment result on group investments, which includes net investment income, realised net capital gains and losses, and impairments, contributed US$7.1bn to the group’s total revenues, up 2% on the prior-year period. The net return on group investments was 3.5%.

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