Plus   Neg

Zurich Insurance 9M P&C Gross Written Premiums Up; Sees To Exceed All Targets

Zurich Insurance Group AG (ZURVY) reported Thursday that its nine-month property & casualty or P&C gross written premiums increased 2 percent to $26.44 billion from last year's $25.87 billion. Premiums grew 7 percent on a like-for-like basis, with further rate acceleration in the third quarter.

Life new business annual premium equivalent or APE fell 11 percent from last year to $3.17 billion. APE decreased 6 percent on a like-for-like basis, adjusting for currency movements, acquisitions and disposals.

The Farmers Exchanges, which are owned by their policyholders, recorded gross written premiums growth of 1 percent to $15.73 billion, with growth across all books of business.

Group Chief Financial Officer George Quinn stated that the company expects to exceed all of the targets that were set in 2016.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
eBay Inc. (EBAY) Wednesday reported a fourth-quarter profit that trumped Wall Street analysts' estimates, as did revenues. However, shares of the company slipped over 5% after the company issued a weak outlook for the first quarter. eBay's fourth-quarter profit dropped to $558 million or $0.69 per... Apple Inc. (AAPL) Wednesday reported a first-quarter profit that trumped Wall Street estimates, as the iPhone maker reported its "highest quarterly revenue ever" driven by strong demand for its iPhone 11 and 11 Pro models during the holiday season. The tech giant also issued a strong revenue outlook... New York Attorney General Letitia James has fled a lawsuit against Vyera Pharmaceuticals and two of its former CEOs, including imprisoned 'Pharma Bro' Martin Shkreli, for illegally monopolizing a life-saving drug Daraprim. The lawsuit seeks a lifetime ban on Shkreli and his business partner Kevin Mulleady working in the pharmaceutical industry.
Follow RTT