Zurich Insurance Group unveiled new three-year targets (2025-2027) one year ahead of the conclusion of its 2023-2025 cycle. Credit: Oliver Hoffmann / Shutterstock.com.

Zurich Insurance Group, unveiling new three-year targets one year ahead of the conclusion of its 2023-2025 cycle, outlined its objective to achieve a core return on equity of over 23% from 2025 to 2027.

It also aims for a cumulative cash generation exceeding $19bn from 2025 to 2027.

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Additionally, the company is committed to achieving an average annual growth of more than 9% in core earnings per share during the period.

Zurich Insurance Group CEO Mario Greco expressed confidence in the company’s trajectory, stating: “Zurich is performing exceptionally well, generating market-leading shareholder returns, but we see new opportunities to accelerate our success story.”

These targets were disclosed during the company’s Investor Day.

Zurich Insurance plans to implement a series of strategic actions across its various divisions to reach these goals.

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The company seeks to bolster its commercial insurance operations, improve retail profitability and customer loyalty, expand its global life protection business, and aid in the sustainable transformation of Farmers Exchanges.

For its commercial insurance division, Zurich targets a business operating profit of more than $4.2bn by 2027, to grow middle market gross written premiums beyond $10bn. The insurer emphasises that improvements in underwriting discipline and portfolio quality are crucial to achieving this.

In the retail and SME segments, Zurich Insurance intends to boost profitability through enhanced underwriting, an improved portfolio mix, and the utilisation of technology.

The life business segment is set to focus on achieving an 8% compound annual growth rate in protection gross written premiums, while also boosting its unit-linked, capital-light offerings.

The protection segment, which contributes nearly 60% of the life division’s operating profit, will be managed as a single global unit to enhance technical excellence in underwriting and customer focus.

As for Farmers Exchanges, the plan is to achieve sustainable mid-single-digit gross written premium growth by improving its policy base and maintaining profitability.

Greco reiterated his optimism about Zurich’s future: “I’m convinced that we will continue to create significant value for our customers and our shareholders.”