Zurich Insurance on track to meet targets with rising non-life premiums By Reuters

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© Reuters. FILE PHOTO: The Zurich insurance logo is visible in an office building in Zurich, Switzerland, 9 August 2018. REUTERS / Arnd Wiegmann

ZURICH (Reuters) – Zurich Insurance Group (OTC 🙂 expressed confidence in achieving its 2022 targets on Thursday, as it reported that property and non-life (Non-Life) premiums were up 11% on a like-for-like basis in the first nine months.

“Non-life gross written premiums continue to benefit from the improving pricing environment. Recent claims are likely to extend the difficult market, with the gap between rate hikes and cost-of-loss inflation likely to persist longer than previously predicted. “Chief Financial Officer said George Quinn.

“Technical profitability is expected to continue to improve despite catastrophe losses that are 3 to 4 percentage points above the long-term average.”

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