Switzerland’s biggest insurer raised its dividend for 2017 by 6%. (Photo: Bloomberg)

(Bloomberg) – Zurich Insurance Group AG overcame a record year for natural-disaster claims in the industry to deliver its first dividend increase since 2011. The shares rose the most since August 2016.

Switzerland’s biggest insurer raised its dividend for 2017 by 6% to 18 Swiss francs ($19.10) a share, after signaling higher investor payouts in November. This will now become the new floor for payouts, Chief Executive Officer Mario Greco said in a Bloomberg TV interview Thursday. Zurich Insurance also announced a share buyback of roughly $1 billion.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.