Zurich’s APAC segment sees P&C climb 6% in Q1 2025

Globally, life business also posted significant gains.

Zurich Insurance’s property and casualty (P&C) segment saw its insurance revenue and gross written premiums rise 5% year-on-year (YoY) to $13.3b in the first three months of the year (Q1 2025), supported by rate increases of 4%, strong profitability in Commercial and improved Retail margins.

The insurer further revealed in an earnings release that it delivered growth across all business segments for Q1 2025.

Commercial Insurance saw a 2% YoY rise in GWP in USD terms, with rate improvements of 3%.

Retail insurance performed more strongly, with premiums up 11% YoY and pricing up 5%, aided by the integration of the acquired AIG personal travel insurance business.

Regionally, P&C premiums grew across all areas, with Asia-Pacific up 6% YoY, EMEA 7% YoY, and Latin America 6% YoY. 

North America posted a 1% YoY increase, with premium growth offset by portfolio management actions aimed at improving margins.

The Life business also posted significant gains, with GWP rising 18% YoY in USD terms to $9.4b and 23% YoY.