Annual Report 2023

Adapt and grow

Annual Report (English)

Annual Report (German)

How we're delivering on our strategy

Our Annual Report outlines our strategy, corporate governance, remuneration, risk management, financial performance and it includes non-financial information in the sustainability report chapter. Additionally, the report features stories that showcase our adaptability and growth, reinforcing our dedication to meeting the evolving needs of our stakeholders while maintaining our position as an industry leader. Explore the report to find out how we progressed on our journey toward innovation, customer-centricity and simplification in the year 2023.

As the world around us continues to undergo dramatic change, Zurich is focused on responding positively and practically to the social, economic and environmental challenges we all face. The ability to adapt is essential if we want to grow and thrive, as a business and for our customers, partners and people – now and in the future. At Zurich, we draw on our heritage, expertise and track record of high performance to see things differently and drive the business forward.

Michel M. Liès (Chairman of the Board of Directors) & Mario Greco (Group Chief Executive Officer)

Greater resilience

PT Zurich General Takaful Indonesia is helping protect more than 3,000 coffee farmers in Sumatra, mainly in Aceh, one of the largest coffee producing regions in the country. Many farmers are financially vulnerable to the impact of extreme weather on their crops, yet insurance penetration is low. Sharia Parametric Weather Index Insurance pays claims to farmers automatically based on actual weather data.
A trusted partnership

Zurich’s long-standing distribution partnership with Deutsche Bank has provided continuity for the bank’s retail customers in Germany for more than a decade. This successful collaboration is why a renewed and enhanced 10-year bank distribution agreement between Zurich Germany and Deutsche Bank took effect in 2023. The scope of the distribution partnership has been extended significantly, opening the way for Zurich to make certain products available to Postbank customers, too.
Adapt and grow

Many of the UK’s historic pleasure piers have been lost. We’re helping keep one alive to make memories for tomorrow. Southend-on-Sea’s pier, named UK “Pier of the Year” in 2023, plays a vital role in the community. Zurich Municipal provides cover to Southend, including its pier, the longest in the world, while Zurich Resilience Solutions (ZRS) offers insights on ways to protect it and other iconic structures.
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Long-term stability

Bächli Bergsport has been our customer since it was founded in 1974 by Swiss alpinists Heinz and Margrit Bächli, today it is still family-owned. It supplies top-quality gear for passionate mountaineers, professional climbers and hobby hikers alike. They know they can also turn to Bächli for advice and support. It’s a story of continuity and evolution amid changes helping to improve safety, enjoyment and sustainability, even in extreme environments.
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Our 2023 financial highlights

Business operating profit (BOP)¹

0.3 bn USD

Net income attributable to shareholders (NIAS)

0.1 bn USD

Proposed dividend per share²

0 CHF

Estimated Swiss Solvency Test ratio³

1 Business operating profit (BOP) indicates the operational performance of the Group’s business units by eliminating the impact of financial market volatility and other non-operational variables.
2 Proposed total dividend, subject to approval by shareholders at Annual General Meeting 2024.
3 Estimated Swiss Solvency Test (SST) ratio, calculated based on the Group’s internal model approved by the Swiss Financial Market Supervisory Authority FINMA. The SST ratio as of January 1 has to be filed with FINMA by end of April each year and is subject to review by FINMA.