Zurich Insurance Group reported strong first-half 2026 results for its Asia Pacific business, driven by continued growth in its Life & Savings (L&S) and P&C operations. For the six months ended 30 June, the insurer posted Business Operating Profit (BOP) of $348m, up 15% from a year earlier. Life & Savings BOP rose 19% as insurance revenue increased 16% to $1.4bn. P&C BOP, meanwhile, climbed 12% alongside an 11% increase in GWP to $2.3bn. The business also reported a combined ratio of 94.0%.
The insurer attributed the strong performance to sustained investments in expanding its presence and capabilities across the region. "We have seen strong performances from each of our markets this half year. The investments we've made over the past few years, building scale and capability across both P&C and L&S, are resulting in strong, profitable growth across the region," said Zurich Insurance Group CEO for Asia Pacific Tulsi Naidu.
The firm said its Life & Savings business benefited from continued growth in independent distribution, group insurance and digital partnerships, while savings and unit-linked products recorded strong momentum, particularly in Japan and Hong Kong. In P&C, growth was broad-based across commercial and retail segments, supported by improved trading performance in commercial insurance, expanded middle market capabilities, and new partnerships in cyber, crop and professional indemnity, alongside significant new business wins. Retail growth was driven by motor and SME portfolios, backed by continued distribution expansion.