Zurich's Annual Report 2025

In a changing world, perspective is everything. At Zurich, we see opportunity in uncertainty. Our Annual Report 2025 shows how we turn uncertainty into insights. No matter how unpredictable the world becomes, we’re committed to helping others see what matters most, with confidence.

The future is uncertain.
We’re not.



  • Zurich Fire Protection trainer
     

    Sharing expertise on expected and unexpected risks

    Zurich Resilience Solutions opened a fire safety training center in the Netherlands with Johnson Controls International in 2025. Our experts deliver specialist knowledge, hands-on experience, and insurance insights to enhance the fire resilience expertise of our own risk engineers and our customers.

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  • A wall full of paintings
     

    Mastering the art of resilience

    Zurich supports its long-standing customer, global logistics provider Katoen Natie, with insurance solutions, captive arrangements, and risk management expertise. This helps Katoen Natie manage risks across a vast network in 30 countries handling everything from priceless artworks to temperature-sensitive pharmaceuticals.

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  • The forest at Instituto Terra
     

    Restoring a thriving ecosystem

    Since 2020, Zurich has supported Instituto Terra’s aim to revive part of Brazil’s badly degraded Atlantic Forest. Founded by Lélia Wanick Salgado and her late husband, photographer Sebastião Salgado, Zurich’s support has enabled Instituto Terra to increase the number of trees it is planting, triple its land and build a new nursery with a capacity of one million seedlings a year.

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  • Man navigating a drone
     

    Using drones to see the whole picture

    In the U.S., Zurich’s crop insurer Rural Community Insurance Services (RCIS) uses drones to inspect agricultural crops for customers. In 2025 its drones flew over 1,500 times to survey over 158,000 acres. In the UK, Zurich also uses drones to inspect equipment and property for customers.

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  • Man showing data and charts on a big screen
     

    Providing trusted analysis and tools

    Zurich Resilience Solutions’ Climate Spotlight transforms proprietary climate data into tailored insights. The digital tool can analyze across 100 locations, helping customers understand their exposure to physical climate risks with scenario-based projections that support adaptation, resilience planning, and regulatory reporting.

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  • Man using his phone
     

    Offering solutions in times of uncertainty

    When Sam Wells’ daughter was diagnosed with a brain tumor, limited UK options pushed him to develop Zurich Accelerate – a healthcare add-on for Zurich life, critical illness, and income protection policies in the UK. It gives families greater control with access to global diagnostics, treatment for serious conditions, and cover for children up to 22.

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Our 2025 financial highlights

Business operating profit (BOP)
8.9 bn USD
Net income attributable to shareholders (NIAS)
6.8 bn USD
Proposed dividend per share1
30 CHF
Estimated Swiss Solvency Test ratio2
259%  

1 Proposed dividend, subject to approval by shareholders at Annual General Meeting 2026.
2 Estimated Swiss Solvency Test (SST) ratio as of December 31, 2025, calculated based on the Group’s internal model approved by the Swiss Financial Market Supervisory Authority FINMA. The SST ratio as of December 31 has to be filed with FINMA by end of April in the subsequent year and is subject to review by FINMA.

  • Michel Lies and Mario Greco

    Thriving in an uncertain world

    Our strength lies in disciplined strategy execution and sound governance. These qualities enable us to navigate volatility and create sustainable value for all stakeholders. As we move forward, we remain committed to supporting our customers and communities – confident in our ability to lead with clarity and purpose, no matter what lies ahead.

    The future may be uncertain, but Zurich is not.

    Michel M. Liès
    Chairman of the Board of Directors

    Mario Greco
    Group Chief Executive Officer


  • Executing on our 2025-2027 priorities

    We are on track to achieve or even exceed on our 2025–2027 three‑year plan, which sets out the most ambitious targets in Zurich’s history. With disciplined strategy execution, we are raising the bar across our Commercial, Retail, Life and Farmers businesses.

    Our plan focuses on delivering strong results, building a resilient business, and positioning Zurich for long-term success in a changing world. We are prioritizing structural growth in Specialty, Middle Market, and Life Protection, building on our proven track record and strengths.

  • Unlocking strategic growth opportunities

    Specialty: Mastering complexity

    Specialty lines represent a significant growth opportunity for Zurich. Global trends in infrastructure, technology, and energy transition are increasing demand for complex insurance solutions. These specialty lines of business – including construction and engineering, financial lines, energy, cyber and marine – require deep expertise and are likely to enjoy stable earnings with attractive returns.

    USD 9 billion

    Specialty portfolio managed





  • Unlocking strategic growth opportunities

    Middle Market: Unlocking potential

    Midsize companies are engines of innovation and economic growth, but they often lack the risk management resources of larger firms. As a result, they need tailored insurance solutions and expert guidance to manage evolving risks. Zurich is ideally positioned to serve these needs.

    > USD 10 billion

    On track to grow Middle Market gross written premiums to more than USD 10 billion by 2027.





  • Unlocking strategic growth opportunities

    Life and Life Protection: Expanding global impact

    Life is a key pillar of our strategy, contributing around a quarter of the Group’s business operating profit and delivering attractive and predictable revenue streams. Global protection and savings gaps are widening as economic and demographic shifts place greater responsibility on individuals for their own financial wellbeing. This creates significant opportunities for insurers to help customers.

    8%

    On track to increase Life Protection premiums by 8 percent annually between 2025 and 2027.





Download our Annual Report 2025

  • Cover Annual Report 2025 English
    Annual Report 2025 (English)
  • Cover Annual Report 2025 German
    Annual Report 2025 (German)