Zurich Insurance Group reported a robust performance for fiscal year 2025, with net income attributable to shareholders rising 17% year-on-year (YoY) to $6.8 billion, underscoring strong operational execution across both its Property & Casualty (P&C) and Life divisions.
Earnings per share reached $45.13, up 13% YoY, reflecting both higher profitability and efficient capital management. The company highlighted sustained growth momentum in its core businesses, driven by disciplined underwriting, favourable claims experience, and disciplined expense management.
Property & Casualty Division Performance
The P&C segment delivered a business operating profit (BOP) of $5.1 billion, marking a 22% increase from the previous year. The division also achieved a combined ratio of 92.6%, demonstrating enhanced underwriting efficiency. Gross written premiums (GWP) surpassed the $50 billion milestone for the first time, recording a 5% increase on a like-for-like basis.
Life Division Highlights
The Life segment posted a BOP of $2.3 billion, up 2% YoY. When excluding prior-year one-off items, underlying growth reached 10%, highlighting steady demand for life insurance products. Life gross written premiums grew 7% on a like-for-like basis, while the contractual service margin (CSM) attained an all-time high, signalling a resilient balance sheet and strong future profitability.
Summary Table of Key Metrics
| Metric | FY 2025 | YoY Change |
|---|---|---|
| Net Income (Shareholders) | $6.8b | +17% |
| Earnings Per Share | $45.13 | +13% |
| P&C BOP | $5.1b | +22% |
| P&C Combined Ratio | 92.6% | Improved |
| P&C GWP | >$50b | +5% |
| Life BOP | $2.3b | +2% (10% underlying) |
| Life GWP | – | +7% |
| Life CSM | All-time high | – |
Zurich’s leadership emphasised that the 2025 results reflect the company’s commitment to disciplined underwriting, strategic growth initiatives, and a strong focus on long-term value creation for shareholders. The group also highlighted that these results position it well for continued expansion in both developed and emerging markets, particularly as global economic conditions stabilise.
Overall, Zurich Insurance Group’s 2025 financial performance demonstrates resilience, operational strength, and an ability to capitalise on growth opportunities across its diversified insurance portfolio.