(Reuters) – Zurich Insurance Group Ltd. does not expect real estate receivables triggered by the COVID-19 pandemic to significantly affect the group, the insurer said on Thursday, adding that it planned to maintain its dividend policy.
has been hit across the board by pandemic – related claims for travel, business interruption and cancellation issues as well as life insurance.
Including the impact of reduced claims rates, COVID-19 receivables remained unchanged at approximately $ 450 million at the end of September, Zurich said.
"I can not give your forecasts for the fourth quarter or the period until 2021 but our best estimate today is … we do not expect any significant impact of this on the group, CFO George Quinn told reporters, adding that he did not see There is no reason to deviate from its dividend policy.
Zurich targets a dividend rate of about 75% of net income and keeps dividends at least stable.
Life insurance claims were kept steady, he said, adding Zurich hoped to see improvements when governments regained control. over the pandemic and the health care system improved in treating patients.
Zurich did not give a nine-month profit.
The third quarter saw an active Atlantic storm season and losses from natural disasters were expected to be about 2 percentage points higher than normal in the second half.
Tax premium for property / accident increased 3% during the first nine m the rivers in a similar way. similar, with strong growth in commercial insurance and a further improvement in interest rates, it said. month of APE sales decreased by 8%. Catalog