Zurich chief says rivals will struggle ‘to replicate’ new profit targets
Zurich’s chief executive Mario Greco has thrown down the gauntlet to rivals, issuing a three-year profit target for the European insurance group that he said peers would struggle “to replicate or imitate”.
The insurer, one of Europe’s biggest by market value, increased its targets at an investor day on Wednesday, including delivering a return on equity of more than 20 per cent between 2023 and 2025.
“We frankly think that this will be record profitability in the insurance industry and this is something that it will not be easy for others to replicate or imitate,” he told the Financial Times.
This story originally appeared on: Financial Times - Author:Ian Smith
