Zurich Asia Pacific reveals strong half-year results

Life and savings business up by 43% from half-year in 2022

Zurich Asia Pacific reveals strong half-year results

Insurance News

By Kenneth Araullo

Zurich Asia Pacific has announced its financials for the half year ending June 30, with the insurer revealing strong performances across the board.

The insurer highlighted a strong trading performance with property and casualty lines growing by 15% and life and savings business surging by 43% over its half year counterpart in 2022. Zurich Asia Pacific also noted a solid business operating profit (BOP) of US$250 million delivered in H1 2023, a figure that is very much above 50% of its full-year BOP target result.

The first six months also saw its customer base growing by more than 375,350, equivalent to over 80% of the region’s full year delivery for 2022. Customer satisfaction also trended up beginning the end of 2022, attributable to the ongoing acceleration of digital capabilities and continued transformation in the customer experience.

“Zurich in Asia Pacific has delivered an excellent trading performance in the first half of 2023, achieving double-digit premium growth, and contributing strongly to Zurich’s overall global premium development. This solid delivery is a product of disciplined execution against a proven and robust strategy,” Zurich Asia Pacific CEO Tulsi Naidu said.

In addition to the regional division’s performance, parent company Zurich Insurance also revealed its interim numbers for the first half year of 2023.

What are your thoughts on this story? Please feel free to share your comments below.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!