Mario Greco, Zurich Group chief executive officer, praised the results, saying they show “the solidity of our business and the value of our mid-term transformation.”
“The P&C business reported today its best-ever combined ratio, with continued robust top-line growth. Our life business also continued to produce excellent results with one of the strongest ever performances for operating profit despite the adverse impact of capital markets and headwinds from currency movements,” Greco added.
Net income after tax attributable to shareholders was US$2.2 billion, up 1% over the prior-year period, despite adverse effects from financial markets. The increase in BOP was largely offset by negative mark-to-market effects, Zurich said.
Zurich noted the impact of COVID-19 continues to decline, with pandemic-related losses in its…