The European insurance giant aims to achieve a core return on equity of more than 23% and generate over $19 billion in cumulative cash between 2025 and 2027.
The updated goals, unveiled a year ahead of schedule, also include a commitment to grow core earnings per share by more than 9% annually over the same period. Zurich, Europe’s fifth-largest insurer, is building on strong performance to seize new growth opportunities, according to CEO Mario Greco.
“Zurich is performing exceptionally well, but we continue to see avenues to accelerate our growth and deliver value to our shareholders,” said Greco.
The announcement reinforces Zurich’s position as a leading player in the global insurance market and underscores its confidence in navigating the evolving financial landscape.
Mario Greco, Group Chief Executive Officer, said: “Zurich is performing exceptionally well, generating market-leading shareholder returns, but we see new opportunities to accelerate our success story. To reflect our growing confidence, we are launching a new three-year plan with the most ambitious targets in Zurich’s history. I’m convinced that we will continue to create significant value for our customers and our shareholders.”
Zurich’s financial targets for 2025–20271
- Commercial Insurance: Business operating profit to exceed US$4.2 billion and Middle Market gross written premiums to surpass $10 billion by end of 2027.
Portfolio quality improvement will drive performance supported by actions to strengthen underwriting discipline. Particular focus on Middle Market and Specialties as areas to accelerate growth. - Retail and SME: Return to a long-term level of profitability and further improve customer loyalization.
Long-term profitability is expected to improve through a combination of strengthened underwriting capabilities across markets, improvements in the portfolio mix, and by leveraging scale and technology assets. The customer experience will be enhanced through new initiatives to earn loyalty and drive financial impact. Further, with the announced acquisition of AIG’s global personal travel business, which is subject to regulatory approval and expected to close before the end of the year, Zurich will also become a leading global travel insurer serving more than 20 million customers and 200 distribution partners through regional units around the world. - Life: Protection gross written premiums to increase to a compound annual growth rate of 8%, and further growth in capital-light unit-linked business.
Zurich’s protection business, which represents almost 60% of the Life business operating profit, will be consolidated under a single global unit to improve technical excellence in underwriting and pricing, and customer focus. - Farmers: Enable sustainable growth at Farmers Exchanges 4.
Farmers exceeded the ambitions set in November 2023 by returning to profitability and improving its capital position. The next phase of its business transformation will grow policies in force and the Farmers Exchanges4 expect sustainable mid-single digit gross written premium growth over the next three years.
Financial results in 2025 will be reported relative to both the current and new plans.
