Zurich Insurance Sets New Three-Year Profit Targets

Zurich Insurance Group AG has set ambitious new financial targets for the next three years, aiming for a core return on equity of over 23% and a compound annual growth rate of more than 9% in core earnings per share through 2027. The insurer expects cumulative cash remittances to exceed $19 billion, a significant increase from the previous target of $13.5 billion. CEO Mario Greco highlighted the company's strong performance and identified new growth opportunities, including a focus on commercial insurance where the business operating profit is projected to surpass $4.2 billion. Additionally, Zurich plans to enhance its life insurance segment, targeting an 8% growth rate in protection gross written premiums. The firm is also consolidating its protection business under a global unit to streamline operations. These targets come as insurers capitalize on favorable market conditions, such as rising premiums due to inflation and recent global challenges.