Zurich P&C premiums reach $42.1 billion

Zurich   reported property and casualty gross written premiums of $42.1 billion for the first nine months of 2026, up 7% on a like-for-like basis, driven by specialty, middle-market, and retail business.

Commercial Insurance premiums rose 5%. Global Specialty grew 9%, including 17% growth in US Construction, while Middle Market premiums increased 6%. Zurich said it continues to grow selectively in other commercial lines.

Overall P&C rates increased 1%, with retail rates up 4%. The company reported early signs that rate declines were slowing in certain US commercial lines, including cyber and financial lines.

Retail premiums increased 9%, led by 14% growth in motor. Severe storms in Switzerland, Germany, and Italy increased third-quarter weather losses, though Zurich said underlying retail profitability improved excluding those events.

Life premiums and policyholder inflows increased 3% to $28.6 billion, with protection business up 11% and unit-linked business up 8%. Zurich also renewed distribution partnerships with Deutsche Bank in Germany and HSBC in the Middle East.

The Farmers Exchanges grew premiums 4% to $23.5 billion and added 342,000 policies during the first nine months, including 127,000 in the third quarter. Farmers Management Services’ underlying fee income increased 5%. Zurich earns fees for services provided to the policyholder-owned Exchanges and has no ownership interest in them.

Zurich completed its acquisition of Beazley on October 2 and plans to provide an integration update at its November 17 Investor Day. The group reported an estimated Swiss Solvency Test ratio of 271% and said it remains confident it will exceed its targets.