Zurich Insurance: strong sales growth in Q1
(CercleFinance.com) - Zurich has started 2023 with strong top-line growth in Q1.
P&C revenues rose 7% to $9,407m, with 11% LFL growth, driven by strong growth in commercial lines and continued pricing improvements.
Life new business adds $265m of contract service margin in the quarter; new business premiums (NBPV) are up 23% LFL, although Farmers Exchanges' gross written premiums decreased 3%.
The group's capital position remains strong with an estimated Swiss Solvency Test ratio of 258% at 31 March.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
P&C revenues rose 7% to $9,407m, with 11% LFL growth, driven by strong growth in commercial lines and continued pricing improvements.
Life new business adds $265m of contract service margin in the quarter; new business premiums (NBPV) are up 23% LFL, although Farmers Exchanges' gross written premiums decreased 3%.
The group's capital position remains strong with an estimated Swiss Solvency Test ratio of 258% at 31 March.
Copyright (c) 2023 CercleFinance.com. All rights reserved.