Zurich Insurance First-Quarter P&C Premiums Rose 14%
May 12 2021 - 1:30AM
Dow Jones News
By Pietro Lombardi
Zurich Insurance Group AG said Wednesday that its property and
casualty gross written premiums rose 14% in the first quarter,
supported by strong growth in commercial insurance and improved
pricing.
The Swiss insurer said P&C gross written premiums were
$11.03 billion in the quarter from $9.68 billion a year
earlier.
Life annual premium equivalent, or APE, fell 4%. APE measures
new business growth for life insurance by combining the value of
payments on new regular-premium policies, and 10% of the value of
payments made on one-time, single-premium products.
"The Group has made a strong start to the year and remained on
track with its strategy and financial plans in the first quarter,"
Chief Financial Officer George Quinn said.
Write to Pietro Lombardi at pietro.lombardi@wsj.com;
@pietrolombard10
(END) Dow Jones Newswires
May 12, 2021 01:15 ET (05:15 GMT)
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