Zurich Insurance Group has reported strong premium growth in its property & casualty (P&C) and life insurance segments into the third quarter of 2023.
P&C insurance revenue increased 9% on a reported, like-for-like basis, driven by growth in commercial and retail insurance, supported by rate increases of 6%. New business premiums in its life business jumped 23%.
P&C gross written premiums stood at $34.5 billion for the nine months ending September 30, 2023, an 8% increase from the prior-year period. New business premiums in its life segment netted $12.2 billion for the Swiss insurer.
