Record Group BOP
Zurich Insurance Group achieved a record group Business Operating Profit (BOP) of $7.8 billion, up 5% year-over-year, reflecting strong business momentum.
Core ROE Increase
The company generated a core Return on Equity (ROE) of 24.6%, an increase of 1.6 percentage points from 2023, demonstrating efficient capital allocation.
Healthy Cash Remittances
Cash remittances were $7.1 billion, reflecting a high cash conversion on NIAS earnings, up 34% in the year.
Life Business Growth
Life BOP grew 9% like-for-like to a record $2.2 billion, with strong growth in protection and unit-linked products. Life gross premiums and new business premiums grew 4% and 5%, respectively.
Property & Casualty Business Growth
The Property and Casualty business continued to grow with gross written premiums up 5% on a like-for-like basis. The segment achieved an absolute profitability with a 94.2% combined ratio and BOP up 8% to $4.2 billion.
Farmers BOP Achievement
Farmers delivered a healthy BOP of $2.3 billion, in line with the record level reached last year, with a full-year combined ratio of 91.4%.
Strong Capital Position
Zurich Insurance Group entered 2025 with a resilient balance sheet and strong capitalization, with the SST ratio closing the year 2024 at 252%.