Zurich recorded growth across all business segments in 2025. Group operating profit rose by 14 percent year-on-year to 8,9 billion dollar. Net income attributable to shareholders climbed by 17 percent to 6,8 billion dollar. This corresponds to adjusted earnings per share of 45,1 dollar, an increase of 13 percent, the group announced on Thursday.

The adjusted return on equity of 26,9 percent was also a record, the insurer emphasized.

«I am very proud that all our business segments contributed to this record result,» said Group CEO Mario Greco. «The outcome shows that we are well on track to achieve or even exceed our 2027 targets and are ideally positioned to capture future growth opportunities.»

Significant Increase in Property and Casualty Business

The property and casualty business delivered a record result in 2025, with operating profit of 5,13 billion dollar — an increase of 22 percent compared with the previous year. The combined ratio improved by 1,6 percentage points to 92,6 percent. Insurance revenue rose by 8 percent to 48,2 billion dollar, and gross written premiums reached 50,4 billion dollar.

In the commercial business, gross written premiums increased by 4 percent to 31 billion dollar. Here, too, the combined ratio improved, by 1,2 percentage points to 91,0 percent. In the retail business, gross written premiums grew by 16 percent in nominal terms and by 7 percent on a like-for-like basis. This was supported by a 5 percent increase in premium rates, mainly driven by higher rates in motor insurance (+8 percent), the company said.

In life insurance, operating profit of 2,3 billion dollar surpassed the previous year’s record level.

Dividend increased by 7 percent

Farmers Exchanges made excellent progress. Decisive management actions supported a stronger underwriting result, the company said. In addition, Farmers achieved further organic surplus growth. Gross written premiums increased by 4 percent, driven by higher new business volumes and improved customer retention. Operating profit rose by 4 percent year-on-year to 2,4 billion dollar.

The group’s capital position was further strengthened. At year-end, the estimated Swiss Solvency Test (SST) ratio stood at 259 percent, compared with 253 percent at the end of 2024.

In light of the strong results, shareholders are to be proposed a 7 percent increase in the dividend to 30 francs.

Board of Directors: Successor for Christoph Franz

Changes to the Board of Directors are also planned at the Annual General Meeting on April 8. The election of Mary Forrest is being proposed. She has extensive expertise in the insurance industry and enjoyed a successful career at Munich Re. From 2008 to 2026, she served as President and CEO North America Life. From 1998 to 2008, she was Executive Vice President Individual Life Services in Canada, and from 1996 to 1998 Vice President Individual Life Services in Canada.

In addition, the Board of Directors intends to appoint Jasmin Staiblin as Vice Chair, succeeding Christoph Franz, who will not stand for re-election after reaching the maximum term of twelve years.