Zurich Asia Pacific reveals strong half-year results
Zurich Asia Pacific reveals strong half-year results | Insurance Business Asia
Insurance News
Zurich Asia Pacific reveals strong half-year results
Life and savings business up by 43% from half-year in 2022
Insurance News
By
Kenneth Araullo
Zurich Asia Pacific has announced its financials for the half year ending June 30, with the insurer revealing strong performances across the board.
The insurer highlighted a strong trading performance with property and casualty lines growing by 15% and life and savings business surging by 43% over its half year counterpart in 2022. Zurich Asia Pacific also noted a solid business operating profit (BOP) of US$250 million delivered in H1 2023, a figure that is very much above 50% of its full-year BOP target result.
The first six months also saw its customer base growing by more than 375,350, equivalent to over 80% of the region’s full year delivery for 2022. Customer satisfaction also trended up beginning the end of 2022, attributable to the ongoing acceleration of digital capabilities and continued transformation in the customer experience.
“Zurich in Asia Pacific has delivered an excellent trading performance in the first half of 2023, achieving double-digit premium growth, and contributing strongly to Zurich’s overall global premium development. This solid delivery is a product of disciplined execution against a proven and robust strategy,” Zurich Asia Pacific CEO Tulsi Naidu said.
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