Repeat & Correct: Zurich Insurance Nine-Month P&C Gross Written Premiums Rose
11 Novembre 2021 - 8:20AM
Dow Jones News
(The article "Zurich Insurance Third-Quarter P&C Gross
Written Premiums Rose," at 0601 GMT, misstated the period in the
headline and article and misstated the gross written premiums
figure. All figures were for the first nine months of the year. The
corrected version follows.)
By Cristina Roca
Zurich Insurance Group AG said Thursday that property and
casualty gross written premiums rose in the first nine months of
the year as the division continued to benefit from better pricing
trends.
Property and casualty gross written premiums were $31.15
billion, up from $27.26 billion a year earlier. On a like-for-like
basis, they were up 11%.
Life new business annual premium equivalent was $2.75 billion,
up from $2.57 billion a year earlier, Zurich said. This key
industry metric, known as APE, measures new business growth.
"The third quarter saw an elevated level of catastrophe losses,
including the major flooding in Germany and a series of other
weather events in Europe in July, and Hurricane Ida in the United
States in August," the company said.
Despite the high catastrophe losses, the company expects its
technical profitability to keep improving and said it continued to
make progress toward its 2022 goals.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
November 11, 2021 02:05 ET (07:05 GMT)
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