The August rush of half-yearly reports is coming to an end: today is the turn of two insurance companies, Zurich and Aviva. The first even registers i best results of the first half of the last 10 years and is preparing to achieve all the 2017-2019 objectives, according to the statement released by the Swiss company. Business operating profit (BOP) grew by 2019% to $16 billion in the first six months of 2,8, with a real boom in that of the Non-Life business, which rose by 46%. Property & Casualty (or “P&C”) combined ratio is 95,1%, the lowest level in the last ten years, with the best performing in the commercial insurance sector, also announced Zurich, whose operating profit of the underlying assets is up 2%.
“In 2016 – commented the CEO of Zurich Mario Greco – we set ourselves ambitious goals and launched a courageous new strategy. Today we are proud to announce that we are ready to exceed all the objectives set and that the strategy is proving to be successful. Over the past three years, we have made substantial improvements to our business mix, reduced volatility and improved the profitability of our portfolios in the non-life business, perfecting our life business through targeted acquisitions. We have entered new and innovative markets, for example, through the acquisition of Cover-More, a provider of travel assistance services and we have launched products dedicated to millennials such as Klinc, an on-demand insurance proposal introduced in Spain, and ToggleSM, a rental insurance launched by booming Farmers Exchange in the US. We have also managed to reduce costs”.
Greco, former top manager of Generali, also recalled the appointment of next November in London, where Zurich will present the new three-year strategic plan: "Starting from what we have achieved, we can look to the future with confidence and optimism".
Important semester also for Aviva, which in Italy closed the period with double-digit growth in operating profit, which stands at 108 million, marking an increase of 24% compared to last year. A positive sign also for Assets Under Management which reached 31,5 billion with a +14% compared to the end of last year. The first half of the year was characterized by outstanding performance with particularly significant results in terms of profitability and net inflows: capital solidity in particular improved, with growth in the capital surplus to 537 million (+181 million compared to the end 2018).
“I am proud – he said Ignacio Izquierdo, CEO of Aviva in Italy – the excellent results achieved: profitability has characterized this first half year which closes with significant double-digit growth. With customers always at the heart of its strategy, Aviva looks to the future by investing in products and services that meet their evolving needs. The new partnerships launched with RBM Assicurazione Salute and Emapi, focused respectively on Health and Long Term Care, as well as the important push on Multi-branch and Protection products, fit into this context. In addition to this, we have doubled our investments in the brand with an advertising campaign and accelerated innovation with the launch of the AvivaPlus digital platform to be ever closer to consumers and offer a new approach oriented towards simplicity, flexibility and digitalisation".
