Zurich Insurance Group reports accelerating growth across Property & Casualty and Life businesses as data center and infrastructure demand boosts specialty lines

Zurich Insurance Group reports accelerating growth across Property & Casualty and Life businesses as data center and infrastructure demand boosts specialty lines

(IN BRIEF) Zurich Insurance Group reported strong first-quarter growth across its Property & Casualty, Life, and Farmers businesses, supported by expanding specialty insurance demand, infrastructure investment trends, and growing life protection sales. Commercial insurance growth was driven by strong performance in North America and EMEA, with AI-driven data center construction and infrastructure projects contributing to rising demand for construction and surety insurance. The company also reported continued expansion in its Middle Market and Retail businesses, while Life insurance premiums benefited from strong protection product growth across multiple regions. Zurich strengthened its reinsurance protection during the quarter and maintained a strong capital position with an estimated SST ratio of 265%. The insurer said its diversified business model and disciplined underwriting continue to support stable growth despite geopolitical and macroeconomic uncertainty.

(PRESS RELEASE)  ZÜRICH, 13-May-2026 — /EuropaWire/ — Zurich Insurance Group reported a strong start to 2026, with accelerated growth across its Property & Casualty (P&C), Life, and Farmers businesses, supported by rising demand in strategic market segments including specialty insurance, middle market commercial coverage, and life protection products.

The insurer said the first-quarter performance demonstrated the resilience of its diversified business model despite ongoing geopolitical and macroeconomic uncertainty. Zurich also highlighted continued strength in its capital position, with the Swiss Solvency Test (SST) ratio estimated at 265% as of 31 March 2026.

Gross written premiums (GWP) in the Property & Casualty business increased 8% on a like-for-like basis during the first quarter. On a reported basis, P&C premiums rose 17% to USD 15.6 billion, partly reflecting currency movements and the timing of several large contracts.

The Commercial Insurance division delivered particularly strong momentum, with gross written premiums increasing 9% on a like-for-like basis. Growth was broad-based across global markets, with especially strong performance in United States and the EMEA region. Zurich’s U.S. construction business recorded volume growth of 21%, helping drive continued expansion within the company’s Global Specialty portfolio, which now represents a USD 10 billion business.

Zurich stated that long-term investment trends, particularly those linked to data center construction and infrastructure development driven by artificial intelligence demand, are creating favorable conditions for its construction and surety insurance operations. The company indicated that its specialty and infrastructure-focused portfolios are well positioned to benefit from these structural growth trends in the years ahead.

Middle Market commercial insurance also continued expanding, with gross written premiums rising 7% on a like-for-like basis. Growth was especially strong in the EMEA region, supported by investments in new operational capabilities and customer services.

Retail insurance operations likewise reported solid performance, with gross written premiums increasing 7% on a like-for-like basis and 15% in U.S. dollar terms. Motor insurance remained the largest contributor to growth, supported by higher new business volumes and average rate increases of approximately 8%. The company cited strong contributions from Germany, Italy, and Spain.

Zurich noted that travel insurance also continued performing well, although future demand could still be influenced by broader macroeconomic and geopolitical developments affecting international travel activity.

As part of its ongoing risk management strategy, Zurich expanded its reinsurance protection for property catastrophe and U.S. casualty exposures during renewal cycles completed in January and April 2026. The company also successfully placed a USD 150 million catastrophe bond, securing multi-year institutional market protection against U.S. named storms and earthquake-related risks.

The Group’s Life business also delivered profitable growth during the quarter. Gross written premiums increased 5% to USD 9.9 billion, supported mainly by strong performance in protection products. Protection premiums rose 9% on a like-for-like basis, with particularly strong contributions from EMEA, Latin America, and Asia Pacific markets. Growth in protection products partly offset lower sales volumes in lower-margin savings products following exceptionally high sales in Spain during the previous year.

Within the Farmers business, underlying fee income increased 4% during the quarter. Gross written premiums at the Farmers Exchanges — which are owned by policyholders and managed by Zurich subsidiaries through service agreements — rose 4%, supported by stronger new business generation.

The Farmers Exchanges added approximately 84,000 policies during the first quarter, with an additional 49,000 policies added during April, signaling further acceleration in growth momentum. Zurich said growth was especially strong within the independent agency distribution channel, driven by broader geographic expansion, improved pricing segmentation, and operational efficiency initiatives.

Claudia Cordioli, Group Chief Financial Officer of Zurich Insurance Group, said the company’s first-quarter results demonstrated accelerating growth across targeted business lines and customer segments, including specialty insurance, middle market commercial clients, and life protection. She added that Zurich’s geographic diversification and strong capital position continue to support the company’s resilience amid ongoing uncertainty.

The company also stated that its direct exposure to geopolitical tensions and conflicts in the Middle East remains limited, with no material impact on financial performance currently expected. Zurich noted that it continues monitoring geopolitical and macroeconomic risks closely while supporting customers as market conditions evolve.

Headquartered in Zurich, Zurich Insurance Group is one of the world’s largest multi-line insurers, providing property and casualty insurance, life insurance, and risk management solutions to individuals, businesses, and institutional clients globally.

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8002 Zurich
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Zurich Insurance Group
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8002 Zurich
Switzerland
investor.relations@zurich.com

SOURCE: Zurich Insurance Group