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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.

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