Zurich Insurance Group AG (ZURVY) Q1 2024 Earnings Call Transcript


Zurich Insurance Group AG (OTCQX:ZURVY) Q1 2024 Results Conference Call May 16, 2024 7:00 AM ET

Company Participants

Jon Hocking – Head, IR
Mario Greco – CEO
Claudia Cordioli – CFO

Conference Call Participants

Andrew Sinclair – Bank of America
Peter Eliot – Kepler Cheuvreux
Will Hardcastle – UBS
James Shuck – Citi
Michael Huttner – Berenberg
Vinit Malhotra – Mediobanca
William Hawkins – KBW
Dom O’Mahony – BNP Paribas
Kamran Hossain – JP Morgan
Ismael Dabo – Morgan Stanley

Jon Hocking

Thank you very much. Good afternoon, everybody, and welcome to Zurich Insurance Group’s First Quarter 2024 Results Q&A Call. On the call today is our group CEO, Mario Greco; and our Group CFO, Claudia Cordioli. I will hand over to Claudia for some introductory remarks, and then Mario will lead the Q&A session. Just to remind you for Q&A, we’d ask you to keep to maximum two questions, please.

Claudia Cordioli

Thank you, John. Good afternoon, everyone, and thank you for joining us also from my side. I’m Claudia Cordioli, Group CFO, and it is my pleasure to take you through our high-level results for the first quarter of 2024. I look forward to meeting you all over the coming weeks and months.

Before Mario and I take your questions, I would like to share a few remarks. We made an excellent start to the year with strong growth across all businesses. This is clear evidence to me of the strength of our unique diversified business model and our relentless focus on execution to deliver on our commitments. Now let’s look at each of the businesses in turn, starting with P&C. Here, we continue to see robust top line growth with insurance revenue up 12% like-for-like on the prior year, supported by rate increases in both retail and commercial.

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