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Zurich Insurance Reports 35% Increase in 2021 Operating Profit to $5.7 Billion

February 10, 2022

Zurich Insurance expects continued revenue and profit growth in the next two years, its chief financial officer said on Thursday, after the Swiss insurer reported its biggest annual profit since the financial crisis.

Insurers were gloomy about the outlook when the pandemic took hold in early 2020, but have remained profitable after excluding COVID-19 from many policies and raising premiums.

Zurich, Europe’s fifth-largest insurer, reported an above-forecast 35% increase in 2021 operating income to $5.7 billion, its highest level since 2007, helped by a strong showing from its commercial business and lower COVID-19 claims.

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