Zurich Insurance 2021 Business Operating Profit Rises - Quick Facts

(RTTNews) - Zurich Insurance Group (ZURVY) reported full-year 2021 business operating profit of $5.7 billion, an increase of 35% from $4.2 billion in 2020. The company said the growth was driven by an underlying improvement across all businesses and reduced claims from COVID-19, which more than offset higher levels of natural catastrophe and weather-related claims. Property & Casualty business operating profit increased 50% to $3.1 billion.

Net income after tax attributable to shareholders was $5.2 billion, an increase of 36% from prior year. The company said this reflects the improvement in business operating profit, supported by higher levels of realized capital gains.

P&C gross written premiums and policy fees were $40.12 billion, up 13%.

The Group proposed a 10% increase in the dividend per share to 22 Swiss francs. The Board will propose the election of Peter Maurer to the Board. Maurer will assume his role on Board as of October 1, 2022.