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Zurich Insurance To Exceed 2017-2019 Targets; Sets New Goals For 2020-2022

Zurich Insurance Group AG (ZURVY) on Thursday announced its new financial targets for 2020-2022, as it is set to exceed all financial targets for the period 2017-2019.

The company projects business operating profit after tax return on equity or BOPAT ROE in excess of 14 percent and increasing over the 2020-2022 period. This is based on selective growth and targeted capital allocation together with further improvements in productivity.

This would lead to compound organic growth in earnings per share of at least 5 percent per annum over the period.

Further, Zurich Insurance projects continued high levels of cash remittances, which are expected to be in excess of $11.5 billion over the three years.

The company also projects to retain its strong capital position with an unchanged target Z-ECM ratio of 100 percent-120 percent.

The company's dividend policy is unchanged, targeting a pay-out ratio of around 75 percent of attributable net income.

Zurich's objectives for the next three years will be presented to investors at an Investor Day in London today.

Group Chief Executive Officer Mario Greco said, "Our performance over the past three years shows that our strategy is working. Our rapid progress is reflected in a total shareholder return of 96 percent since the start of 2016."

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