Group Chief Executive Officer Mario Greco said: "Zurich has delivered the strongest performance in a long time, demonstrating the strength of our franchise, the quality and commitment of our people, and the benefits of repositioning the business in recent years.
The P&C business achieved the best combined ratio in 15 years and double digit top-line growth. Higher risk-adjusted prices and continued measured progress towards our growth ambitions took P&C gross written premiums to more than USD 40 billion for the first time.
The extreme weather events of 2021 again highlight the pressing need to take collective action to address climate change. The insurance industry has a natural alignment with the sustainability agenda, and I am particularly proud of our work in this area throughout the past year as we continue to reinforce Zurich's leadership position.
Zurich continues to benefit from an excellent balance sheet and financial flexibility. This, together with our strong operating results, has allowed us to propose a 10% increase in the dividend per share to CHF 22.
Zurich is in outstanding health as we celebrate our 150th anniversary this year. I am optimistic about Zurich's momentum, the skills and enthusiasm of our people and the opportunities that lie ahead of us. I have every confidence we will meet or exceed our 2022 targets."
Full-year 2021 business operating profit (BOP) was USD 5.7 billion, an increase of 35% compared with USD 4.2 billion in 2020. Growth was driven by an underlying improvement across all businesses and reduced claims from COVID-19, which more than offset higher levels of natural catastrophe and weather-related claims.
Net income after tax attributable to shareholders was USD 5.2 billion, an increase of 36% compared with the prior-year period. This reflects the improvement in BOP, supported by higher levels of realized capital gains.
The full press report provided by the Group on the FY2021 results us available here.
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