Annual figures 2020: Zurich Insurance: Operating profit drops by 20 percent

The corona pandemic is also noticeable at the Zurich Insurance Group: operating profit fell by 20 percent to 4.2 billion US dollars last year.

—

(help) The Zurich Insurance Group recorded a profit decline for the 2020 financial year: The operating profit fell year-on-year by 20 percent to 4.2 billion US dollars, as the group announced on Thursday. The result for the first half of the year was adversely affected by the effects of the corona pandemic. In the second half of the year, however, there was a return to growth.

The Covid-19-related impact was $ 852 million, according to Zurich. This includes $ 450 million in property and casualty insurance. In addition, the catastrophe claims exceeded the previous year by USD 588 million.

Zurich is satisfied with its corporate customer business: gross premiums rose by 7 percent on a comparable basis in 2020. According to Zurich, these premiums make up around two thirds of the premiums in the Group’s property and casualty insurance business. The Group attributes this development to significant premium rate increases in North America and Europe as well as better customer loyalty.

–