Zurich Insurance Nine-Month Property and Casualty Gross Written Premiums Rose 3%

By Joshua Kirby

Zurich Insurance Group AG's nine-month property and casualty gross written premiums rose 3%, it said Thursday.

The premiums rose to $27.26 billion from $26.44 billion the previous year, the Swiss insurance company said. This growth was supported by higher premium rates driven by commercial insurance.

The capital position remains strong, with the Z-ECM ratio--which reflects the ability to cover policyholders' liabilities above their expected value--estimated at 110% and the Swiss Solvency Test ratio at 193% as of the end of September, Zurich Insurance said.

The company said it intends to change the reporting of its capital position to be based only on the Swiss Solvency Test from the last quarter of the year, in line with its Swiss and European peers.

Write to Joshua Kirby at joshua.kirby@dowjones.com; @joshualeokirby

(END) Dow Jones Newswires

November 12, 2020 01:19 ET (06:19 GMT)

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