(Tiper Stock Exchange) – Zurich Insurance Group, during Investor Day 2022, announced the new targets for the three-year period 2023-2025confirming its customer-focused strategy.
“Over the past three years, against a backdrop of a global pandemic and its economic fallout, the growing impact of climate change and the war in Ukraine, our ssuccess strategy, customer centricon simplification and innovation, has gave consistent results for the shareholders and for the customers”, explained the CEO of the Mario Greco Groupadding that this strategy has already given “many results”.
“Our ambition does not stop there. – added Greco – Now we intend to further accelerate our strategy to build one clear leadership position nthe insurance sector. Over the next three years, we intend to further grow P&C margins and Life business earnings. We expect Farmers to maintain growth rates in the mid-single-digit range, continuing recent trends. With these results and strong cost discipline, we aim to achieve an after-tax return on equity of more than 20% by 2025. At the same time, we will continue to integrate sustainability principles into our business through responsible, transparent initiatives and measurable. We will monitor our progress against the new goals announced today and are confident we can achieve them by 2025.”
The next three years will build on the successes achieved in the 2017-2022 period, but the Group is well positioned to exceed all financial targets for the second consecutive three-year period. THE target for the period 2023-2025 include: a Return on equity of net profit (BOPAT ROE) more than 20%; a 8% EPS compound organic growth annual; cumulative cash remittances exceeding 13.5 billion of dollars, a Swiss Solvency Test (STT) ratio of at least 160%, a dividend policy unchanged and attractive (pay-out ratio of approximately 75% on the net profit attributable to shareholders).