Zurich lifts 2022 targets as Swiss insurer holds investor day

FILE PHOTO: The logo of Swiss Zurich insurance is seen at an office building in Zurich, Switzerland October 2, 2018. REUTERS/Arnd Wiegmann - Copyright ARND WIEGMANN(Reuters)

By Reuters

Published on 14/11/2019 - 16:37•Updated 26/04/2024 - 07:55

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ZURICH (Reuters) - Zurich Insurance <ZURN.S> set new targets to grow operating profit and deliver higher levels of cash remittances over the next three years, Europe's fifth-biggest insurer said in a statement ahead of its investor day in London on Thursday.

The insurer aims for a business operating profit after tax return on equity (BOPAT ROE) in excess of 14% and increasing, up from its current target of more than 12%, as well as organic earnings per share growth of at least 5% annually.