Zurich Insurance Group reported that its property and casualty insurance business continued to maintain growth momentum in the first quarter of 2026, with insurance revenue increasing 5% to US$12 billion and total written premiums increasing to US$15.6 billion.
By market segment, property and casualty insurance business revenue in Europe, the Middle East and Africa (EMEA) increased 5% year-on-year to US$5.38 billion, up from US$4.65 billion in the same period last year.
North American insurance revenue increased 4% year over year to $5.11 billion, compared with $4.81 billion in the first quarter of 2025.
Insurance revenue in the Asia-Pacific region increased 5% year-on-year to US$1.05 billion, compared with US$982 million in the same period last year.
Latin America recorded the strongest regional growth in the first quarter of 2026, with insurance revenue rising 18% year-over-year to $946 million, compared with $770 million in the same period last year.
Meanwhile, property and casualty gross premiums (GWP) increased 8% year-over-year to $15.6 billion in the first quarter of 2026, compared with $13.3 billion in the same period last year.
GWP in Europe, the Middle East and Africa increased 6% year-on-year to US$8.06 billion in the first quarter of 2026, up from US$6.84 billion in the first quarter of 2025; GWP in North America increased 9% year-on-year to US$5.99 billion, compared with US$5.19 billion in the same period last year.
GWP in the Asia-Pacific region also increased 9% year-on-year to US$1.11 billion, compared with US$1.03 billion in the same period last year.
Latin America again posted the strongest growth, with GWP rising 20% year-on-year to $1.03 billion, up from $827 million in the first quarter of 2025.
As for Zurich’s life business, the company reported weaker year-over-year growth in some segments of the business as declines in Europe, North America and Latin America offset growth in the Asia-Pacific region.
In the first quarter of 2026, life gross premiums and deposits fell 5% year-over-year to $9.85 billion, compared with $9.36 billion a year earlier.
In Europe, the Middle East and Africa (EMEA), gross premiums and deposits fell 2% year-over-year to $7.29 billion, compared with $6.68 billion in the same period last year.
North America saw a sharp decline, with gross premiums and deposits down 80% year-over-year to $80 million, compared with $398 million in the first quarter of 2025.
Asia Pacific was the only region to post growth, with gross premiums and deposits up 12% year-on-year to US$813 million, up from US$681 million in the same period last year.
Gross premiums and deposits in Latin America fell 5% year over year to $1.75 billion, compared with $1.68 billion a year earlier.
While year-on-year growth was negative across most of the life business, most regions reported year-over-year growth in U.S. dollar figures, supported by currency and portfolio effects.
“All of our businesses started the year strong, with growth accelerating across targeted business lines and customer segments, including professional, mid-market and life protection.”
Group Chief Financial Officer Claudia Cordioli commented on the results: “Combined with our geographical diversification, these results underline the resilience of our business model and the strength of our franchise.
“With our strong capital position, we are well-positioned to navigate the current uncertain environment and continue to meet or exceed our 2027 goals.”
In its performance report, Zurich also commented on the geopolitical conflicts and tensions it faces in the Middle East, noting that risk exposure remains limited and is not expected to have a material impact on results.
“Against a backdrop of heightened geopolitical and macroeconomic uncertainty, Zurich continues to focus on supporting customers as risks across markets continue to be reassessed,” the company concluded.