Zurich Insurance Sets New Financial Targets

By Maitane Sardon

Zurich Insurance Group AG on Wednesday set new financial targets for the next three years and said it is on track to achieve the targets it set three years ago.

The Swiss insurer said it is targeting compound organic growth in earnings per share of 8% a year over the 2023 to 2025 period. This will allow it to achieve a business operating profit after tax return on equity in excess of 20% by 2025, it said.

Cash remittances are expected to be in excess of $13.5 billion over the three years, the company said. It also targets a Swiss Solvency Test ratio of at least 160%.

"Zurich plans to deliver these targets by accelerating its customer-focused strategy and generating additional value for shareholders," the company said.

Its dividend policy, which consists of a pay-out ratio of around 75% of net income attributable to shareholders, remains unchanged, Zurich said.

Write to Maitane Sardon at [e-mail]

(END) Dow Jones Newswires

November 16, 2022 01:43 ET (06:43 GMT)

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