The Group highlighted accelerating growth in its preferred business segments, supported by strong demand for specialty insurance, infrastructure projects and life protection solutions.
Property & Casualty business operating profit increased 16% to USD 2.8 billion, with gross written premiums rising 7% to USD 29.9 billion and a combined ratio of 92.7%. Growth was particularly strong in Global Specialty, where construction premiums surged 18%, driven by demand for data center and energy infrastructure projects. Meanwhile, Life business operating profit reached a record USD 1.3 billion, up 23%, supported by double-digit growth in protection business and expanding margins. Farmers also maintained positive momentum, with business operating profit increasing to USD 1.2 billion as policy growth accelerated across distribution channels.
Zurich maintained a very strong capital position, with an estimated Swiss Solvency Test (SST) ratio of 266%, and reiterated that it is ahead of its current strategic targets. The Group also confirmed that the planned acquisition of Beazley Plc. remains on track for completion in the second half of 2026, subject to regulatory approvals.
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