Zurich Chief Executive Officer Mario Greco says he is “very confident” that his group can deliver on its 2022 targets, citing investment in developing customer service satisfaction and deployment of new technologies, as well as an overall adjustment of services in response to customer needs.
His comments come as the group prepares a virtual presentation covering strategic priorities for 2020 to 2022, which include digitalisation and innovation, commercial insurance, and finance.
The event will feature Ericson Chan, Group Chief Information & Digital Officer; Sierra Signorelli, CEO Commercial Insurance; and George Quinn, Group Chief Financial Officer.
Greco noted how Zurich is growing its business via the combination of internal initiatives and increasing rates, highlighting how this approach is, “well placed to deliver shareholder returns and our strong dividend proposition is well-founded on the business composition we have today.”
“We have also made remarkable progress in making our business more sustainable, by changing and adapting what we do in our operations and how we work with customers,” he added.
In Commercial, Zurich says it is taking full advantage of the hard insurance market to improve profitability and quality, with the group seeing significant opportunities moving forward off growing profitably and an improvement on portfolio quality, while also expanding resilience services and supporting the energy transition.
In Retail, Zurich’s strategy of putting the customer at the heart of its business described as having been rewarded, with the group having continued with product innovation and services even during the pandemic.
Zurich’s Life business, meanwhile, is described as an important contributor to earnings due to resilient distribution channels and its focus on unit-linked and protection products.
Lastly, Zurich underscores a focus on the way capital is allocated across the business, and how this will further improve return on capital; decisions will be based on strategic priorities and long-term financial and market trends.