Zurich Insurance Group reported continued momentum in its P&C business during the opening quarter of 2026, with insurance revenue rising 5% to $12 billion and gross written premiums increasing to $15.6 billion.
Looking at the P&C business by segment, insurance revenue in Europe, Middle East and Africa (EMEA) rose 5% on a like-for-like basis to $5.38 billion in Q1 2026, up from $4.65 billion a year earlier.
North America insurance revenue increased 4% like-for-like to $5.11 billion, compared with $4.81 billion in Q1 2025.
Asia Pacific posted a 5% like-for-like increase in insurance revenue to $1.05 billion, versus $982 million in the prior-year quarter.
Latin America recorded the strongest regional growth in Q1 2026, with insurance revenue up 18% like-for-like to $946 million, compared with $770 million a year earlier.
Meanwhile, P&C gross written premiums (GWP) increased 8% on a like-for-like basis to $15.6 billion in Q1 2026, compared with $13.3 billion in the same period last year.
EMEA GWP rose 6% like-for-like to $8.06 billion in Q1 2026, up from $6.84 billion in Q1 2025, while North America GWP increased 9% like-for-like to $5.99 billion, compared with $5.19 billion a year earlier.
Asia Pacific GWP also grew 9% like-for-like to $1.11 billion, versus $1.03 billion in the prior-year period.
Latin America again delivered the strongest growth, with GWP rising 20% like-for-like to $1.03 billion, up from $827 million in Q1 2025.
Turning to Zurich’s Life business, the firm reported weaker like-for-like growth across parts of the segment, as declines in Europe, North America and Latin America offset growth in Asia Pacific.
Life gross premiums and deposits fell 5% on a like-for-like basis to $9.85 billion for Q1 2026, compared with $9.36 billion in the prior-year period.
In Europe, Middle East and Africa (EMEA), gross premiums and deposits declined 2% like-for-like to $7.29 billion, versus $6.68 billion a year earlier.
North America recorded a sharp decline, with gross premiums and deposits falling 80% like-for-like to $80 million, compared with $398 million in Q1 2025.
Asia Pacific was the only region to post growth, with gross premiums and deposits increasing 12% like-for-like to $813 million, up from $681 million a year earlier.
Latin America gross premiums and deposits declined 5% like-for-like to $1.75 billion, compared with $1.68 billion in the prior-year quarter.
While like-for-like growth was negative across much of the Life business, reported U.S. dollar figures were higher year-on-year in most regions, supported by currency and portfolio effects.
“All our businesses started the year strongly, with growth accelerating across targeted business lines and customer segments, including Specialty, Middle Market and Life Protection.”
Claudia Cordioli, Group Chief Financial Officer, commented on the results: “Combined with our geographic diversification, these results highlight the resilience of our business model and the strength of our franchise.
“Thanks to our strong capital position, we are well-positioned to navigate the current uncertain environment and stay on track to meet or exceed our 2027 targets.”
Within its results report, Zurich also commented on its exposure to geopolitical conflicts and tensions in the Middle East, noting that exposure remains limited, with no material impact on performance expected.
“Against a backdrop of heightened geopolitical and macroeconomic uncertainty, Zurich continues to focus on supporting its customers as risks across the market continue to be reassessed,” the firm concluded.
