About Zurich
Setting targets and delivering
Strong earnings reports in half-year results reinforce financial strength of Zurich Insurance Group and Zurich North America.
Our Programs business, like all the sectors Zurich serves, is built on a foundation of financial stability, strength and growth. Zurich Insurance Group’s half-year results for 2023, announced in August, showed that the foundation remains firm.
Zurich North America contributed significantly to Zurich Insurance Group’s success in this period, which saw the company’s overall business operating profit (BOP) matching the record high set in the first half of 2022. Zurich Insurance Group also achieved its highest return ever on equity (after-tax business operating profit return on common shareholders’ equity, or BOPAT ROE), which CEO Mario Greco stated was “among the highest in the industry.”
Also extremely favorable is Zurich’s capital position. As of June 30, 2023, the company’s Swiss Solvency Test (SST) ratio was estimated at 263% — more than 100 percent above the organization’s target level.
Upon release of the results, Zurich North America CEO Kristof Terryn stated, “We’re proud to share that we continue to celebrate steady growth, even in the face of significant volatilities in our financial markets. We’re working together to achieve our results, and we are making a difference with our customers.”
See Zurich Insurance Group’s half-year financial results for 2023
See Zurich Insurance Group’s half-year financial results for 2023
Also making headlines at Zurich
Stepping up in cybersecurity
In August, Zurich Holding Company of America, a subsidiary of Zurich Insurance Group, announced the acquisition of SpearTip, a cyber counterintelligence firm that helps protect clients against cyber threats through proactive and response services.
In July, Zurich North America introduced a cyber insurance offering designed specifically for Middle Market businesses. The Zurich Cyber Insurance Policy – Concierge Suite includes not only Cyber Insurance coverage but also loss-prevention and resilience services such as a breach coach and a cybersecurity hotline available 24/7.
Sustainability Services: A great team gets even better
The summer saw two new valuable additions to Zurich Resilience Solutions’ (ZRS) U.S. Sustainability Services team, dedicated to helping customers identify and manage environmental, social and governance (ESG) related risks. Elise White was appointed Director of Workforce Resilience Services in July and Jessica Balsam took on the newly created role of Head of Climate Solutions in August.
Zurich looks to the future with Junior Achievement
On August 11, Junior Achievement USA® announced a four-year commitment from the Z Zurich Foundation to update its K-5 curriculum, which will be redesigned with enhanced digital components and to be more reflective of the communities Junior Achievement serves. The Z Zurich Foundation is a charitable foundation funded by members of the Zurich Insurance Group.
Keep up with news from Zurich and learn what’s new and what’s next in risk and resilience at FutureOfRisk.com.
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4 PROGRAM LEADER