P&C: commercial strengthening and retail expansion
In P&C, growth was broad-based across commercial and retail segments. Despite softening market conditions, Zurich’s APAC commercial insurance operation improved its trading performance and strengthened its middle market capability, adding new partnerships in cyber, crop and professional indemnity, as well as winning significant new business. The cyber partnership addition is particularly relevant to brokers in markets such as Singapore, Hong Kong, Australia, and Japan, where demand for cyber capacity continues to outpace locally available supply.