Zurich is able to present positive Figures. The operating profit, which is specified by the insurer as a Business Operating Profit (BOP), increased by a fifth to 4.57 billion U.S. dollars. The bottom line, net income advanced even almost a quarter to 3.72 billion.
In 2017, however, had charged to cost of disasters, as well as a load due to a regulatory adjustment in the UK life insurance business, the result with a total of over 800 million dollars. Although wind towers in the southeastern United States caused approximately in the past year cost, jeodoch were a lot lower.
Better cost / damage ratio
Thus, the cost-to-damage-rate, the Combined Ratio improved, in the event of loss of business to 97.8 percent, according to a value of 100.9 per cent in the previous year. The Rate is below 100 percent, then the insurer money in this business.
The Zurich remains solidly capitalized. The specially calculated Z-ECM ratio, which is drawn to the control of the business, was by the end of 2018, with 125 per cent at a high level. And on the equity earned rate of return is 12.1 percent, still above the target of 12 percent.
to The shareholders a higher dividend to be paid out. New 19 francs per title, this is a franc more than a year ago.
With the for the full-year Figures presented, the insurer has the analysts ' expectations exceeded. This had expected in the run-up in the average (AWP-consensus), with an operating profit of 4.44 billion and a net profit of 3.40 billion. The estimates on the Combined Ratio moved in a range of 97.2 to 98.5 percent.
In the message group CEO Mario Greco speaks of the progress, the power of the Zurich in the implementation of the strategy. The two years ago launched a restructuring program is in full swing. In the first line of the Zurich group wants to bring the property insurance business, where profitability is under pressure came back to the track.
In the framework of the programme, the Zurich wants to reduce costs by $ 1.5 billion below the level of 2015. A large has been reacted with 1.1 billion already part. In addition, the group is aiming for a cumulative Cash revenue of more than 9.5 billion. This target will be exceed by the end of 2019. (fal/sda)
Created: 07.02.2019, 09:02 PM