Zurich Insurance Is Expected To Exceed 2022 Financial Targets

"Zurich Insurance is expected to exceed its 2022 financial targets due to its good performance during the covid-19 outbreak," CEO Mario Greco said on Wednesday. Europe's fifth-largest insurer raised its business operating profit target from 12% to 14% in November 2019, following its equity tax return. In an interview with Reuters, CEO Mario Greco said, "We are in the race to deliver all our targets for 2022 to shareholders, it is possible that we may even exceed these targets." Insurance companies were pessimistic about the future of the industry as the coronavirus outbreak began in early 2020. However, after removing covid-19 from many policies and increasing premiums, companies managed to maintain their profitability. CEO Mario Greco said that the commercial insurance industry, in particular, could experience strong growth this year, aided by both rising premium rates and increased coverage demand. Traditional markets such as Germany and Switzerland, as well as emerging markets such as Brazil and Indonesia, have brought growth opportunities for insurance companies. Mario Greco, CEO of Zurich Insurance said, “Growth will not just come through acquisitions,” and added the following to his statements; "Buying a business that needs transformation isn't a great solution if you need to transform yourself. Generally we don't think the solution is to buy, the ultimate solution to this problem is to provide customers with what they need." Insurance giant Zurich Insurance will announce its full financial results for 2021 on February 10.