ZURICH (dpa-AFX) - Zurich Insurance Group AG (ZURVY) on Thursday said it is on track to deliver fiscal 2022 targets.
Group Chief Executive Officer Mario Greco said, 'We are very confident in our ability to deliver on our 2022 targets. .. We're growing our business through the combined effect of our own initiatives and increasing rates.'
At today's Investor Day, the company will update investors and analysts on the progress of the company's strategy. The presentations will cover strategic priorities for 2020 to 2022, digitalization and innovation, commercial insurance, and finance.
In Commercial, Zurich said it sees significant opportunities to continue growing profitably while improving the portfolio quality, expanding resilience services and supporting the energy transition.
In Retail, the company continued with innovation of products and services, adding a net 2.5 million retail customers from end-2019 through September 2021.
Zurich's Life business, meanwhile, remains an important contributor to earnings thanks to its resilient distribution channels and its focus on unit-linked and protection products.
The Farmers Exchanges, which are owned by their policyholders, are concentrating on growing customer reach by expanding and diversifying distribution channels. The acquisition of MetLife's P&C business in the U.S., meanwhile, offers further opportunities to accelerate new business growth.
In Switzerland, Zurich Insurance shares were trading at 399.70 Swiss francs, down 0.70 percent.
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