Zurich P&C premiums jump 8% to $15.6b Q1 2026

Commercial insurance rose 9% on demand from construction and Middle Market expansion.

Zurich Insurance Group's business growth accelerated in the first quarter of 2026 (Q1 2026), driven by demand for data centre construction and Middle Market expansion.

Property and Casualty (P&C) gross written premiums rose 8% on a like-for-like basis to $15.6b. 

Commercial insurance grew 9% in Q1 2026, led by a 21% volume surge in US construction projects like data centres and infrastructure. 

Retail premiums increased 7%, driven by an 8% average rate hike in motor insurance.

The insurer said in a statement they remain on track to meet its 2027 targets.

Life insurance gross premiums reached $9.9b, up 5% in US dollars but down 5% like-for-like. 

Whilst Life Protection premiums grew 9% in Q1 2026 globally, this was offset by lower savings product sales in Spain compared to last year's exceptionally high volumes. 

An improved product mix lifted the new business margin to 7.4%.

Farmers Exchanges gross premiums rose 4% to $7.7b, adding 84,000 net policies. Zurich’s Swiss Solvency Test capital ratio strengthened to 265%. 

This excludes a $5.0b capital raise for the Beazley Plc acquisition, expected to close later this year.