Finance
Insurer Zurich could exceed 2022 financial targets, says CEO
Published by maria gbaf
Posted on January 19, 2022
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by maria gbaf
Posted on January 19, 2022
2 min readLast updated: January 28, 2026
Zurich Insurance is on track to exceed its 2022 targets, with strong growth in commercial insurance and rising premiums, says CEO Mario Greco.
LONDON (Reuters) – Zurich Insurance could exceed its targets for the 2022 financial year as the business has performed well during the COVID-19 pandemic, CEO Mario Greco said on Wednesday.
Europe’s fifth-largest insurer set out ambitious three-year targets in Nov 2019, including raising its target for business operating profit after tax return on equity (BOPAT ROE) to more than 14% from the previous goal of more than 12%.
“We’re fully in the race to deliver to shareholders all our targets for 2022… we can even exceed those targets,” Greco told Reuters Breakingviews in an interview.
Insurers were gloomy about the outlook for the industry when the coronavirus outbreak took hold in early 2020. But they have remained profitable after excluding COVID-19 from many policies and raising premiums.
Greco said the commercial insurance business in particular was likely to see strong growth this year, helped both by rising premium rates and by increasing demand for cover.
Traditional markets such as Germany and Switzerland as well as emerging markets such as Brazil and Indonesia provided growth opportunities, he said.
But growth would not necessarily come via acquisition, he added.
“If you need to transform yourself, acquiring a business which needs transformation is not a great solution. In general, we don’t think the solution to this is acquisition, it’s providing the customers with what they need.”
Zurich will report full year 2021 results on Feb. 10.
(Reporting by Carolyn Cohn; editing by Huw Jones, Kirsten Donovan)
The main topic is Zurich Insurance's potential to exceed its 2022 financial targets, as stated by CEO Mario Greco.
Zurich Insurance has performed well during the pandemic, maintaining profitability by excluding COVID-19 from many policies and raising premiums.
Zurich Insurance focuses on providing customer needs rather than acquisitions, with growth expected in both traditional and emerging markets.
Explore more articles in the Finance category
