Zurich Insurance Group AG

Zurich Insurance Group reported a record business operating profit of $4.8 billion for the first half of 2026, up 13% year on year, with core earnings per share growing 11.5%. Property & Casualty gross written premiums rose 7% to nearly $30 billion, and the P&C operating profit reached an all-time high of $2.8 billion, a 16% increase, while the combined ratio stood at an excellent 92.7%. Life operating profit hit a record $1.3 billion, up 16% on a like-for-like basis, driven by a 10% rise in protection premiums, and Farmers achieved its strongest half-year ever with an operating profit of $1.2 billion and an industry-leading combined ratio of 82.4%. The company expressed confidence in meeting or exceeding its 2027 financial targets, supported by strong momentum and structural growth trends.

BOXX Insurance, a global cyber insurtech part of Zurich Insurance Group, announced affirmative coverage for AI and deepfake related events for social engineering and security failures within its commercial policy offering, Cyberboxx Business. The new endorsement eliminates ambiguity around AI-driven incidents, with 86% of US business leaders reporting at least one AI-related incident in the past year and 81% of Canadian businesses that experienced fraud also facing an AI-enabled attack. The coverage is paired with First Party Each and Every Loss reinstatements, which keep the policy aggregate limit of liability available throughout the policy period after each cyber incident. Erik Tifft, Global Head of Underwriting at BOXX Insurance, said the updated policy language addresses real risks businesses face in the age of AI, including threat actors exploiting trusted relationships to obtain credentials or misdirect payments without a breach.