Zurich(US:ZURVY)2022-02-11 20:48Financial Performance Highlights - Zurich Insurance Group's FY21 Business Operating Profit (BOP) increased by 35% to $5.7 billion, the highest since 2007[5, 67] - The Group's net income attributable to shareholders (NIAS) increased by 36% in 2021[81, 265] - Cash remittances for 2021 amounted to $4.4 billion[11, 62, 221, 256] - The proposed dividend increased by 10% to CHF 22 per share[6, 61, 71, 257] Business Segment Performance - Property & Casualty (P&C) gross written premiums (GWP) increased by 11% like-for-like[5, 69, 87, 228] - Life BOP increased by 27%, with new business value up 22% on a reported basis[6, 70, 240] - Farmers Exchanges GWP increased by 7% like-for-like[6, 70, 218] - Farmers Management Services BOP increased by 5% like-for-like[6, 70] Key Ratios and Metrics - The Group's Swiss Solvency Test (SST) ratio was 212% as of Q4-21, a 31 percentage point improvement compared to Q4-20[6, 71, 218, 221, 328] - The P&C combined ratio improved to 94.3%, the lowest in 15 years[5, 69, 213] - Net promoter score improved, with approximately 2.2 million net new customers acquired[5, 68, 213, 233] Strategic Initiatives and Outlook - The Group is on track to meet or exceed its 2022 targets[5, 67, 221] - The sale of the Italian life and pension back book is expected to add approximately 11 percentage points to the SST ratio[59, 252, 329] - The Group expects mid-to-high single digit growth in net earned premiums for P&C in 2022[84, 269]