Zurich in APAC sees 16% rise in operating profit for H1 2025

P&C BOP rose 24% to $180m.

Zurich Insurance Group’s Asia Pacific business reported a 16% year-on-year (YoY) rise in Business Operating Profit (BOP) to $302m for the six months ending 30 June (H1 2025), driven by growth in both Property and Casualty (P&C) and Life operations.

P&C BOP rose 24% YoY to $180m, with Gross Written Premiums (GWP) up 14% YoY to $2.1b. The Combined Ratio stood at 93.6%.

Growth was supported by expansion in Motor and SME portfolios, the launch of Commercial Insurance operations in India and Malaysia, higher investment income, and contributions from new and expanded digital partnerships with firms including Cathay Pacific, GXB Bank, Lazada, Shopee, Tesla, and Trip.com, the company said.

Life insurance delivered $1.7b in gross premiums, up 22% YoY, with BOP up 7% YoY to $122m. 

Gains came from savings and protection products sold via independent financial advisors and agency channels, as well as new offerings such as the Future Link unit-linked product in Japan. 

The business also secured a contract to provide group life cover for 700,000 members of the Australian Retirement Trust, with onboarding set for 2026.