Zurich Insurance Q1 Property & Casualty GWP Up 14%

Zurich Insurance Group AG (ZURVY) on Wednesday reported that its first-quarter Property & Casualty or P&C gross written premiums increased 14 percent to $11.03 billion from last year's $9.68 billion.

On a like-for-like basis, gross written premiums increased 9 percent, driven by strong growth in commercial insurance and further improvement in pricing

Life annual premium equivalent or APE fell 4 percent to $919 million from last year's $958 million. APE sales were down 4 percent on a like-for-like basis.

Farmers Exchanges gross written premiums in the quarter rose 4 percent on a reported to $5.33 billion and rose 4 percent on LFL basis.

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