Zurich Insurance Openinging is higher than expectations

Written by Paulo Ludani

(Reuters)-Zurich Insurance informed the annual operating profits higher than expected on Thursday, as insurance companies exceed the impact of disasters and climate wars.

She also said that she would suggest the election of Thomas Jordan, who is leading the Swiss National Bank for 12 years to step down last September, to the Board of Directors.

The fifth largest insurance company in Europe has reached the $ 7.8 billion operating profits of 2024, before the estimated analysts of $ 7.7 billion in the consensus provided by the company.

“You may have made it clear that the group has become reassuringly reliable,” Jefferies analysts wrote in a note.

The insurance company said that the fires in California, which destroyed thousands of homes and killed dozens of people, increases concerns about insurance companies, and the pre -tax impact is estimated at $ 200 million, including farmers ’business.

“Certainly not much,” CEO Mario Greco said in a call after the influence.

“However, we do not secure special courses in California as Zurich. This is what farmers do. Therefore, we just have some commercial companies there,” he said. Zurich does not have the work of farmers but runs it and receives fees from it.

As expected in a three -year plan in November, the company expects that the annual growth of compounds in the basic profits of the share exceeds 9 % between 2025 and 2027.

Greko said that there is no space for an annual re -purchase with the profit distribution policy of its company, as Zurich suggested an increasing profit from 28 Swiss francs ($ 31.02) per share.

The rate of rise combined in its basic work and losses (P&C), which came in line with analysts’ expectations by 94.2 %. The percentage, which is less than 100, indicates that the insurance company obtained by more than one installments, which prompted it in the claims.

About interest rates in the United States, the largest market in Zurich, financial manager Claudia Kordioli said that for the company, “the fact that interest rates in the United States remain higher for a longer period that is not necessarily defects but the opposite.”

($ 1 = 0.9025 Swiss franc)

(Paulo Laudani reports in GDANSK; additional reports from Paul Arnold; edited by Mila Nessi, Rashmi Aki and Thomas Ganeovsky)