Zurich creates a record profit thanks to premium increases – but loses Swiss customers

Luzerner Zeitung

Factuality

Ownership

In Switzerland, Germany and generally in the European retail business, the insurance group has exchanged customers and market shares for higher profits. The strategy is reminiscent of the polar bears on the melting plaice.

Herbert Frommes Versicherungsmonitor

Factuality

Ownership

The Zurich Group once again achieved a record result last year. Net profit increased by 34 percent to 5.8 billion dollars (5.6 billion euros). According to the CEO Mario Greco, the insurer benefited from the continued high prices in industrial insurance. The private customer business also went well, he said. The burden from the forest fires in California is manageable. Thomas Jordan, former head of the Swiss central bank, is to become a new memb…