ZURICH – Zurich Insurance Group is on track to deliver on its 2022 targets, it said ahead of an investor day presentation on Thursday, stressing its strategy and business mix allow “superior” returns to shareholders and support its dividend policy.
Europe’s fifth-largest insurer last week said it plans to raise its dividend and was confident of hitting its 2022 targets after property and casualty (P&C) premiums rose 11% on a like-for-like basis in the first nine months of 2021.
Presentation slides included comments from finance chief George Quinn that Zurich was on track to exceed its return on equity target of above 14% by fiscal year 2022.
A slide on the group’s commitment to the transition to clean energy highlighted how it was reducing its exposure to fossil fuels.
Zurich noted it would no longer underwrite new greenfield oil
exploration projects, was committed to a full phase-out of thermal coal from its underwriting portfolio, and would not underwrite oil and gas drilling and production in the Arctic.