Zurich in Asia Pacific Reports H1 2025 Profit of USD 302 million, up 16%; P&C up 24%
Zurich in Asia Pacific delivered a strong performance for the six months ending 30 June 2025 with Business Operating Profit (BOP) rising 16% year-on-year to USD 302 million. This was underpinned by disciplined growth across Property and Casualty (P&C) and Life, a strong Combined Ratio (COR), and continued investment to expand its presence across the region.
- P&C BOP of USD 180 million, up 24% year-on-year, with 14% growth in Gross Written Premiums (GWP) to USD 2.1 billion and COR of 93.6%.
- Life Gross Premiums reached USD 1.7 billion, up 22%, with Life BOP of USD 122 million, up 7% year-on-year.
- Record customer satisfaction, with Transactional Net Promotor Score (TNPS) score up 4 points from FY 2024.
Tulsi Naidu, CEO, Asia Pacific, Zurich Insurance Group said, “We’re increasingly well-positioned to meet the growing requirements of Asian customers. These strong first half results demonstrate our consistent focus on the fundamentals – delivering for our customers, expanding distribution and partnerships, driving efficiencies, and continuing to deliver on Zurich Group’s 2025-27 strategy.
“We’ve seen standout growth in P&C with scale and market share gains, along with improved profitability. Our investments in digital capabilities, SME, and Commercial Insurance are delivering results, with growing scale across our markets.
“We’re also actively building our life franchise in the region, improving profitability, adding new propositions, and improving agency performance. We are seeing the benefits of this consistent focus with the recent substantial group life contract win in Australia.”
P&C BOP rose to USD 180 million, up 24% year-on-year, with GWP reaching USD 2.1 billion, up 14%. This was driven by continued expansion in the Motor and SME portfolios; ongoing development of the Commercial Insurance business with launches in both India and Malaysia; strong investment income; and contributions from new and expanded digital partnerships including Cathay Pacific, GXB Bank, Lazada, Shopee, Tesla, and Trip.com.
Life delivered Gross Premiums of USD 1.7 billion, up 22%, and BOP of USD 122 million, up 7% year-on-year, driven by growth across both savings and protection products in the independent financial advisor and agency channels. Zurich continues to pursue new growth opportunities, notably with the launch of Future Link (Unit Linked) product in Japan, and in the group life business, which saw strong momentum with Zurich Australia being selected to insure 700,000 members of the Australian Retirement Trust (ART) – Australia’s 2nd largest superannuation fund - to be onboarded in 2026.
Zurich has continued to strengthen its brand and customer advocacy across the region. TNPS reached a new record, up by 4 points from December 2024, supported by the adoption of empathy and tone of voice programs to improve customer experience, as well as investments in AI-assisted agency portals, underwriting and claims tools. The businesses across the region have also been recognized by 50+ awards in the first half of 2025, including Digital Insurer of the Year by InsureTech Asia and the Recognition of Excellence Award from OpenGov Asia. Alongside this, Zurich remains committed to being an employer of choice with six of its markets recognised as Great Places to WorkTM as well as Best Workplaces for WomenTM in China.
Tulsi Naidu concluded: “These results show the strength, discipline and focus of our teams across Asia Pacific. We’re delivering profitable growth, improved margins, and deeper relationships with our customers and partners. As we move into the second half, we remain committed to consistent execution, delivery against our strategy and realising the opportunities across the region.
For further information, please contact:
Ben Evetts
Head of Communications & Marketing, Zurich APAC
ben.evetts@zurich.com.sg
Zurich Insurance Group (Zurich) is a leading global multi-line insurer founded more than 150 years ago, which has grown into a business serving more than 75 million customers in more than 200 countries and territories, while delivering industry-leading total shareholder returns.
Reflecting its purpose to ‘create a brighter future together,’ Zurich offers protection services that go beyond traditional insurance, to support its customers in building resilience. Since 2020, the Zurich Forest project supports reforestation and biodiversity restoration in Brazil’s Atlantic Forest.
The Group has more than 63,000 employees and is headquartered in Zurich, Switzerland. Zurich Insurance Group Ltd (ZURN) is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information is available at www.zurich.com.
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Certain statements in this document are forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives of Zurich Insurance Group Ltd or the Zurich Insurance Group (the Group). Forward-looking statements include statements regarding the Group’s targeted profit, return on equity targets, expenses, pricing conditions, dividend policy, underwriting and claims results, business initiatives (including, but not limited to, sustainability matters), as well as statements regarding the Group’s understanding of general economic, financial and insurance market conditions and expected developments. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results and plans, policies, initiatives and objectives of Zurich Insurance Group Ltd or the Group to differ materially from those expressed or implied in the forward-looking statements (or from past results). Factors such as (i) general economic conditions and competitive factors, particularly in key markets; (ii) the risk of a global economic downturn, in the financial services industries in particular; (iii) performance of financial markets; (iv) levels of interest rates and currency exchange rates; (v) frequency, severity and development of insured claims events; (vi) mortality and morbidity experience; (vii) policy renewal and lapse rates; (viii) increased litigation activity and regulatory actions; and (ix) changes in laws and regulations and in the policies of regulators, and the possibility of conflict between different governmental standards and regulatory regimes may have a direct bearing on the results of operations of Zurich Insurance Group Ltd and the Group and on whether the targets will be achieved. Zurich Insurance Group Ltd undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise.
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