Zurich bullish on growth with 2022 targetNovember 15 2019 by Andrew Tjaardstra
At Investor Day in London this week, Zurich has revealed new targets to increase operating profit and earnings per share in the coming three years up until 2022.
Those targets include a business operating profit after tax return on equity in excess of 14% which is an uplift from the firm’s existing target of 12%. Zurich’s organic earnings per share growth is now set at 5% or more annually.
Last week, the insurer, which has a large Asia-Pacific footprint, reported that P&C gross written premiums increased 2% in the first nine months of 2019, and that it expected to exceed the financial targets set in 2016.
Mario Greco, Zurich’s group chief executive, said: “Our performance over the past three years shows that our strategy is working. Our rapid progress is reflected in a total shareholder return of 96% since the start of 2016. We have made Zurich simpler, more agile and efficient, and strengthened the foundations for our long-term success.”
He added: “We remain committed to supporting our customers, employees and communities in facing the challenges of a fast-changing world such as climate change and cyber risks. We want the next generation to thrive. Sustainability is not just a story we tell, it is a principle that informs everything we do.”
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