Zurich Insurance Group Ltd · SIX:ZURN

Zurich Insurance — FY2025 Earnings Presentation

65 slides from Zurich Insurance's earnings presentation, Feb 19, 2026

  1. Slide 1: Driving growth, delivering value

    Driving growth, delivering value Full year results 2025 February 19, 2026 Investor and media presentation Zurich Insurance Group © Zurich

  2. Slide 2: Content

    Content Use symbols to navigate through the document Key highlights Financial performance Other important information Group Group Disclaimer P&C P&C Dividend policy Life Life 2023-2025 targets Farmers Farmers Customer KPIs Solvency Other segments Investment details Outlook Solvency and balance sheet

  3. Slide 3: Key messages

    Key messages Successful start to 2025- High quality results, delivering a record BOP of USD 8.9bn in FY-25, up 14% year-on-year. Record Core 2027 cycle ROE of 26.9% with profit growth across all business segments P&C: a record top and P&C BOP of USD 5.1bn up 22%. Superior risk selection, improved po

  4. Slide 4: Durable growth, leading ROE and strong cash conversion

    Group Durable growth, leading ROE and strong cash conversion Core EPS (USD)1 Core ROE (%)2 Cash remittances (USDbn) Dividend per share (CHF) >51.9 27% >19 +9% CAGR 25% 7.4 45.1 7.1 23% >23% +7% CAGR 30 40.1 28 37.9 34.2 26 16% 4.8 24 27.4 29.5 14% 14% 4.4 4.6 22 20 20 21.5 11% 3.4 3.4 FY-19 FY-20 FY

  5. Slide 5: Strong start to the 2025-2027 cycle

    Group Strong start to the 2025-2027 cycle Core ROE (%)1 Cash remittances Core EPS growth (%)2 SST (%)3 (USDbn) +13% 259% 26.9% >19.0 51.9 >23% 45.1 40.1 ≥160% 7.4 FY-25 Target FY-25 Target FY-24 FY-25 2027 target FY-25e Target 2025-2027 2025-2027 baseline (>9% CAGR) 2023-2025 1 Business operating pr

  6. Slide 6: All businesses delivering strong momentum

    Group All businesses delivering strong momentum GWP (USDbn)1 BOP (USDbn) NIAS (USDbn) 6% CAGR 10% CAGR 86.6 8.9 25% CAGR 6.8 79.7 7.8 76.6 5.8 7.4 2.4 36.2 2.3 32.2 33.1 2.3 4.4 2.3 2.2 2.1 46.6 50.4 5.1 44.4 3.9 4.2 FY-23 FY-24 FY-25 -0.9 -1.0 -0.9 FY-23 FY-24 FY-25 FY-23 FY-24 FY-25 P&C Life Farme

  7. Slide 7: Continued strong combined ratio delivery, exceptional profitability across both segments

    P&C Continued strong combined ratio delivery, exceptional profitability across both segments P&C – Group (%) P&C – Commercial (%) P&C – Retail (%) -1.8ppts -0.3ppts -5.5ppts 94.5% 94.2% 92.6% 91.4% 92.3% 91.0% 99.8% 96.5% 94.4% FY-23 FY-24 FY-25 FY-23 FY-24 FY-25 FY-23 FY-24 FY-25 Combined ratio Feb

  8. Slide 8: Disciplined Commercial growth; Retail supported by strong net new business growth and rates

    P&C Disciplined Commercial growth; Retail supported by strong net new business growth and rates P&C GWP growth by driver – Commercial (USDbn)1 P&C GWP growth by driver – Retail (USDbn)2 +4% +16% 28.3 19.4 0.9 27.2 1.3 0.0 0.2 0.8 0.1 16.7 0.5 FY-24 Rate change Exposure change Net new business FY-25

  9. Slide 9: Middle Market with continued underlying growth maintaining strong profitability

    P&C - Commercial Middle Market with continued underlying growth maintaining strong profitability Middle Market GWP (USDm) Middle Market rate change (%) U.S. Middle Market combined ratio (%) FY-24 7,745 FY-25 U.S. Middle Market 83 +7% Ø 87.4% U.S. Middle Market +6% 120% U.S. MM Specialties 78 +8% 100

  10. Slide 10: Specialty growth supported by AI infrastructure demand and attractive margins

    P&C - Commercial Specialty growth supported by AI infrastructure demand and attractive margins Global Specialty remains a profitable growth driver U.S. Construction benefiting from hyperscalers’ (USDbn, %) buildout (USDbn, %) Ø 86.5% Ø 92.0% 1.9 9.4 9.6 1.7 8.7 1.6 8.4 1.4 4% CAGR 9% CAGR FY-22 FY-2

  11. Slide 11: Portfolio actions significantly improving profitability

    P&C - Commercial Portfolio actions significantly improving profitability; strong execution in crop, motor trend remains favorable North America Crop (%) North America Motor (%) -10.0ppts -13.7ppts 100.7% 101.8% 114.5% 119.4% 90.7% 100.8% FY-23 FY-24 FY-25 FY-23 FY-24 FY-25 11% 15% 15% Combined ratio

  12. Slide 12: Retail P&C with accelerated profitable growth supported by strong rates

    P&C - Retail Retail P&C with accelerated profitable growth supported by strong rates and improving motor results in EMEA P&C Retail BOP (USDm) Retail Motor – Combined ratio (%) Retail Motor combined ratio improvements (%) +307% -8.5ppts 105.0% 101.5% Germany -16.8ppts 1,471 96.5% 980 Switzerland -8.

  13. Slide 13: NatCat: Earnings volatility addressed through sophisticated risk selection

    P&C NatCat: Earnings volatility addressed through sophisticated risk selection and exposure management Reduced catastrophe exposure against a backdrop Reduced market share of Cat losses over time of business growth and inflation Indexed (FY-21 = 100) 2% 140 North 1% America 130 0% FY-21 FY-22 FY-23

  14. Slide 14: Life delivers consistent profit growth, fuelled by Protection

    Life Life delivers consistent profit growth, fuelled by Protection BOP (USDm) BOP contribution by line of business (%)2 +10% underlying growth in FY-25 14% 2,235 2,288 2,235 2,288 +8% CAGR 2,060 154 1,963 1,812 1,554 FY-25 1,486 1,423 28% 1,258 2,081 58% 1,130 FY-16 FY-17 FY-18 FY-19 FY-20 FY-21 FY-

  15. Slide 15: Protection GWP up 5% like-for-like, LatAm rebounds in H2

    Life Protection GWP up 5% like-for-like, LatAm rebounds in H2 Profitable growth… …led by EMEA and Asia Pacific Brazil regaining momentum Protection GWP (USDm) Protection GWP by region (USDbn)4 Brazil Santander JV: Protection GWP (USDm)5 +5% 500 Like-for-like1 3.8 9,673 EMEA +7% 4.7 400 8,724 2.4 300

  16. Slide 16: Highest ever Life CSM, up 18%

    Life Highest ever Life CSM, up 18% driven by strong new business and favorable FX CSM walk (USDm) FY-25 line of business split (USDm) +18% 1,325 15,405 13,760 1,231 1,646 448 13,760 3% 598 147 1,231 26% 21% 11,657 -1,646 27% 23% 36% 69% 55% 38% FY-24 New Expected Operating Economic FX/Other CSM befo

  17. Slide 17: Increasing policy count; Agency Brokerages enhancing customer acquisition

    Farmers Exchanges1 Increasing policy count; Agency Brokerages enhancing customer acquisition and retention GWP (USDm) Farmers Exchanges1: PIF2 Agency Brokerages3: PIF quarter- quarter-on-quarter change on-quarter change (thousand) +4% (thousand) 29,600 28,371 107 62 42 23 29 29 30 -58 +5% -269 -320

  18. Slide 18: Farmers Exchanges' has a strong foundation for sustainable future growth

    Farmers Exchanges1 Farmers Exchanges’1 has a strong foundation for sustainable future growth Combined ratio2 (%) Surplus ratio (%) 111.6% FY-25 17.5% 95.4% 95.2% 52.9% 5.7% 87.8% 90.5% 15.1% 6.1% 34-38% 14.7% 79.1% 3.2% Target range 94.1% 89.7% 80.1% 81.7% 75.9% 75.8% H1-23 H2-23 H1-24 H2-24 H1-25 H

  19. Slide 19: Exposure management evidenced by California wildfire incurred losses

    Farmers Exchanges1 Exposure management at the Farmers Exchanges’1 evidenced by California wildfire incurred losses well below market share Los Angeles Wildfire incurred losses compared to expected losses, based on premium share (%)2 Losses > premium share Losses ~ premium share Losses < premium shar

  20. Slide 20: Farmers Management Services and Farmers Re driving positive momentum

    Farmers Management Services (FMS) & Farmers Re Farmers Management Services and Farmers Re driving positive momentum FMS BOP (USDm) Farmers Re BOP (USDm) 7.0% 7.0% +4% 2,074 2,152 39 49 +27% 243 2,035 2,103 192 FY-24 FY-25 FY-24 FY-25 FMS ex-Agency bokerages Agency Brokerage BOP contribution % MGEP m

  21. Slide 21: Very strong capital position with SST ratio at 259%

    Solvency Very strong capital position with SST ratio at 259% 36% -33% 259% 253% -4% 0% 7% -7% FX SST ratio (%)1 +10% Interest rates, RE +3% Equity markets +1% Credit spreads FY-24 Assumption and Management Market Economic profit / Capital actions2 FY-25e model changes actions and other business grow

  22. Slide 22: Durable growth at industry-leading levels of return

    2026 Outlook Durable growth at industry-leading levels of return • Insurance revenue expected to grow by mid-single digit percentage year-on-year Property & Casualty • Unchanged guidance for PYD (1-2%), losses from natural catastrophes (2.5-3.0%); projected increase in insurance finance expenses exp

  23. Slide 23: Financial performance

    Financial performance 23 © Zurich

  24. Slide 24: Diversified business growing consistently at highly attractive margins

    Group – Business operating profit Diversified business growing consistently at highly attractive margins BOP by region (USDm) BOP by business (USDm) +14% +14% In local currencies In local currencies +14% +14% 8,856 8,856 7,751 637 7,751 580 633 2,387 586 2,387 2,286 2,286 2,288 2,235 2,673 2,370 5,1

  25. Slide 25: Commentary

    Group – Business operating profit Commentary • Group business operating profit (BOP) was at a record level of • Life BOP of USD 2.3bn exceeded the previous year record level. USD 8.9bn, with 14% growth in local currencies. Both the insurance service result and fee result improved year on year, benef

  26. Slide 26: Record net income attributable to shareholders of USD 6.8bn

    Group – Net income attributable to shareholders Record net income attributable to shareholders of USD 6.8bn BOP to NIAS walk (USDm) Net impact of capital gains / losses (USDm)1 26.6% Effective tax rate 1,058 Mark-to-market -299 623 -419 -7 (FVTPL securities and 1,887 real estate) 403 Net realized -2

  27. Slide 27: Commentary

    Group – Net income attributable to shareholders Commentary • Net impact of capital gains / losses was USD 1.1bn favorable for • Restructuring costs totaled USD 0.3bn for the full year, in line the full year, with positive mark-to-market performance of assets1 with the prior-year. partially offset by

  28. Slide 28: Profitable growth supported by positive rate changes

    P&C – Top-line Profitable growth supported by positive rate changes FY-25 top-line development GWP like-for-like growth Insurance revenue Insurance revenue GWP (USDm) Rate change (%)2 Rate change outlook (%)1 (USDm) like-for-like growth (%)1 EMEA 21,707 6% 3% Moderating 20,652 6% North America 23,11

  29. Slide 29: Commentary

    P&C – Top-line Commentary • Insurance revenue rose 4% on a like-for-like basis driven by the • In North America, gross written premiums increased 3% on a like- earn-through of growth in gross written premiums. for-like basis. Underlying strong growth was offset by a planned reduction of program busi

  30. Slide 30: Exceptional growth in key segments drives P&C BOP up 22%

    P&C – BOP components Exceptional growth in key segments drives P&C BOP up 22% BOP by segment (USDm) BOP by component (USDm) +21% +21% In local currencies In local currencies +22% 5,129 5,129 219 4,204 346 4,204 -31 -89 223 1,044 343 2,654 4,545 2,313 3,500 2,042 1,487 1,539 313 1,508 373 -162 -133 -

  31. Slide 31: Commentary

    P&C – BOP components Commentary • P&C BOP was USD 5,129m, 22% higher than in the previous year • The impact of fee result, other result, policyholder tax and non- driven by 8% higher insurance revenue and a 1.6 percentage controlling interests decreased USD 89m compared to the prior points lower com

  32. Slide 32: Combined ratio improvement driven by lower attritional loss ratio

    P&C – Combined ratio details Combined ratio improvement driven by lower attritional loss ratio and favorable catastrophe loss experience P&C combined ratio walk (%) 94.2% -1.1% 92.6% -1.9% -0.1% 0.5% 0.3% -0.2% 0.9% FY-24 Undiscounted Cat Discount PYD Commissions Premium tax Other insurance FY-25 AY

  33. Slide 33: Commentary

    P&C – Combined ratio details Commentary • P&C combined ratio of 92.6% decreased 1.6 percentage points • Prior year development of 1.8% remained within the indicated compared to the prior year period driven by a lower loss ratio 1-2% range. All regions experienced favorable development in despite an

  34. Slide 34: P&C with excellent underlying profitability, strong performance in Retail

    P&C – Combined ratio by segment and customer unit P&C with excellent underlying profitability, with a particularly strong performance in Retail Accident year combined ratio (AY CR) excl. catastrophes by region (%) AY CR excl. catastrophes by customer unit (%)1 -1.4ppts +2.1ppts -0.4ppts -1.2ppts +1.

  35. Slide 35: Commentary

    P&C – Combined ratio by segment and customer unit Commentary • In EMEA, the accident year combined ratio ex-catastrophes • In Latin America, the accident year combined ratio ex- improved 1.4 percentage points compared to prior year mainly catastrophes improved 0.4 percentage points compared to the d

  36. Slide 36: P&C investment income continues to benefit from book yield expansion

    P&C – Investment result P&C investment income continues to benefit from book yield expansion Investment result in BOP (USDm) Investment income yield of Group investments (%)1 3.8% 3.9% -2% FY-24 FY-25 1,539 1,508 269 211 Book yield2 3.6% 3.9% Reinvestment yield2 5.0% 4.5% 2,503 2,635 Insurance finan

  37. Slide 37: Commentary

    P&C – Investment result Commentary • Net investment result decreased 2% compared to the previous • The book yield for debt securities rose to 3.9% while year as higher investment income was more than offset by lower reinvestment rates on debt securities decreased to 4.5%. realized capital gains and

  38. Slide 38: Reinsurance program protecting our balance sheet

    P&C – Reinsurance Reinsurance program protecting our balance sheet Group catastrophe reinsurance protection (USDm) 215 400 400 400 1,200 1,200 1,200 400 550 463 850 505 650 300 200 Europe all perils1 U.S. all perils Rest of world all perils Global aggregate cat treaty2 North America earthquake swap

  39. Slide 39: Commentary

    P&C – Reinsurance Commentary • Effective Jan 1, we have renewed our Global Aggregate Cat treaty with an increased capacity (95% vs 87.5%) with risk adjusted stable prices. • We renewed our Global Top Cat XL including an added cyber coverage with a risk adjusted reduction in renewal pricing, reflecti

  40. Slide 40: Life gross premiums up 7% like-for-like

    Life – Gross premiums Life gross premiums1 up 7% like-for-like Gross premiums by line of business (USDbn)1 Gross premiums by region (USDbn)1,2 +7% 36.2 33.1 +12% -3% 25.4 20.9 21.7 20.4 +5% +77% -10% 9.7 +16% 8.7 8.0 6.1 6.9 -6% 3.5 2.8 3.2 1.0 0.9 Unit-linked Protection Savings & annuities Total2 E

  41. Slide 41: Commentary

    Life – Gross premiums Commentary • In FY-25, Life gross premiums grew 7% on a like-for-like basis • In EMEA, gross premiums were up 12% on a like-for-like basis compared to the prior year, driven by capital efficient savings and benefiting from strong growth in protection across the region, and prot

  42. Slide 42: New business CSM grew 11% like-for-like

    Life – New business and revenues New business CSM grew 11% like-for-like CSM generating businesses1 Businesses without CSM1 PVNBP (USDm)2 Like-for-like NB CSM (USDm)2 Like-for-like Revenues (USDm) Like-for-like change (%)3 change (%)3 change (%)3 Short term protection: Protection 6,626 6% 853 9% 2,9

  43. Slide 43: Commentary

    Life – New business and revenues Commentary • In FY-25 the Group saw strong growth in Life new business. Long • Insurance revenues for short term life insurance, which is mainly term insurance contracts earn profits over time mainly through related to the protection business in Latin America, grew 9

  44. Slide 44: Record high BOP of USD 2.3bn

    Life – Business operating profit Record high BOP of USD 2.3bn BOP by driver (USDm) BOP by region (USDm) Δ Y-o-Y Δ Y-o-Y (USDm, %) (USDm, %) Long-term insurance: 1,825 +142 (+8%) EMEA 1,562 -13 (-1%) Profit release1 Short-term insurance: 545 +24 (+5%) Technical result Latin America 418 +61 (+17%) Inv

  45. Slide 45: Commentary

    Life – Business operating profit Commentary • Life BOP hit a new high of USD 2,288m, with a USD 53m • In EMEA, BOP declined 1% year on year. While insurance margin increase compared to the prior year which included USD 154m of and fee result improved, overall BOP was lower than in the prior non-recu

  46. Slide 46: FMS and Farmers Re BOP driven by Farmers Exchanges premium growth

    Farmers FMS and Farmers Re BOP driven by Farmers Exchanges¹ premium growth and outstanding underwriting results Farmers BOP (USDm) Commentary +4% • Farmers Management Services (FMS) BOP rose 4% 2,387 2,286 year-on-year, supported by higher gross earned premiums at the 20 243 192 Farmers Exchanges¹ a

  47. Slide 47: Group Functions and Operations & Non-Core Businesses

    Group Functions and Operations & Non-Core Businesses Group Functions and Operations with unfavorable FX impact; Non-Core Businesses report favorable year-on-year experience Group Functions and Operations BOP (USDm) Non-Core Businesses BOP (USDm) -48 -354 -104 -400 -20 -17 -496 -483 -870 -900 FY-24 F

  48. Slide 48: Commentary

    Group Functions and Operations & Non-Core Businesses Commentary • Group Functions and Operations reported net expenses of USD 900 million, driven by an unfavorable foreign-exchange translation effect, reflecting the USD weakening against the CHF. • The Group’s Non-Core Businesses reported an operati

  49. Slide 49: Shareholders' equity up 12% driven by record NIAS

    Balance sheet and capital structure Shareholders’ equity up 12% driven by record NIAS Shareholders’ equity (USDm) Capital structure (%)1 8% 7% +12% 6,798 17% 17% 125 1,007 28,515 4% 4% 25,472 -80 -143 -4,665 19% 20% 52% 52% FY-24 NIAS Dividend Currency Net Treasury Pension FY-25 FY-24 FY-25 translat

  50. Slide 50: Commentary

    Balance sheet and capital structure Commentary • Shareholders’ equity increased by USD 3.0bn compared to year • The proportion of debt in the IFRS based capital structure end 2024. This was driven by strong NIAS of USD 6.8bn, which decreased to 24.1%, from 24.8% in FY-24. Group leverage more than co

  51. Slide 51: Low average debt cost and balanced maturity profile

    Debt Low average debt cost and balanced maturity profile Debt (USDbn) and average debt cost (%) Balanced refinancing needs (USDbn)1 14.0 2.8 12.9 Average debt 0.3 4.2 FY-24 FY-25 2.4 cost (%) 4.0 2.1 Subordinated 4.1% 3.9% 0.6 0.2 1.8 Senior 1.8% 1.9% 0.8 1.2 1.3 2.4 9.8 Total 3.2% 3.3% 0.4 8.9 1.9

  52. Slide 52: Very strong capital position, SST ratio well in excess of the 160% floor

    Solvency Very strong capital position, SST ratio well in excess of the 160% floor Group Swiss Solvency Test (%)1 Q3-25 SST sensitivities impact (ppts)2 300% 267% 253% 259% Interest rate +50bps +9ppts 234% 216% 221% 222% 204% 212% Interest rate -50bps -10ppts 200% 182% Equities +20% +6ppts ≥160% Equi

  53. Slide 53: Well diversified capital base by business segment

    Solvency Well diversified capital base by business segment FY-25 Available Financial Resources (USDbn) FY-25 Risk Capital Split (%)2 2% Market risk Shareholders’ equity 28.5 6% 7% 4% Premium and reserve risk Dividend Accrual -5.4 Business risk Share buyback accrual 0.0 54% Natural catastrophe risk 2

  54. Slide 54: Strong cash remittances from all business segments

    Group - Cash remittances Strong cash remittances from all business segments Normalized cash remittances in % of NIAS Cash remittances (USDbn) 7.4 7.1 1.7 ~95% ~90% ~85% 3.4 ~75% 4.8 1.7 1.6 0.9 1.7 5.4 3.3 3.2 -0.1 0.0 -0.1 P&C Life Farmers Total -1.0 -1.1 -1.3 FY-23 FY-24 FY-25 Property & Casualty

  55. Slide 55: Disclaimer and cautionary statement

    Disclaimer and cautionary statement Certain statements in this document are forward-looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives of Zurich Insurance Group Ltd or the Zurich Insurance Group (the Group). Fo

  56. Slide 56: Other important information

    Other important information 56 © Zurich

  57. Slide 57: We are focused on continuing to reward our shareholders

    Group – Dividend policy We are focused on continuing to reward our shareholders Dividend policy1 Dividend per share (CHF) NIAS payout ratio of ~75% 30 28 26 24 22 20 20 Dividend increases based on sustainable 18 19 earnings growth 17 Minimum target of prior year level FY-16 FY-17 FY-18 FY-19 FY-20 F

  58. Slide 58: 2023-2025 targets comfortably exceeded

    2023-25 targets 2023-2025 targets comfortably exceeded Core ROE (%)1 Cash remittances EPS growth (USD)2 SST (%)3 (USDbn) 14% CAGR 26.9% 19.3 47.2 259% 40.4 >20% FY-25 7.4 13.5 32.1 ≥160% FY-24 7.1 FY-23 4.8 FY-25 Target Cumulative Target FY-22 FY-25 Target FY-25e Target 2023-2025 2023-2025 2023-2025

  59. Slide 59: Update on customer satisfaction and brand consideration

    Customer KPIs Update on customer satisfaction and brand consideration tNPS1 FY-25 vs. FY-24 Brand consideration ranking4 13% 13% 13% 13% Global2 +3.5pts 21% 20% 20% 27% 21% 33% 33% EMEA +1.0pts 33% 40% 53% Asia Pacific +2.9pts 60% 57% 53% 53% 47% Latin America +11.1pts 40% 33% Farmers Exchanges3 +8.

  60. Slide 60: Well diversified and stable investment portfolio

    Investments Well diversified and stable investment portfolio FY-25 Group investments (%)1 FY-25 asset quality (%) FY-25 non-financial credit (%) 6% USD 59bn USD 77bn 5% Other 3% 4% 4% 5% 9% 10% 4% 19% Consumer 7% non-cyclical 8% 33% 20% 28% Utility 2% 6% Consumer cyclical USD USD 178bn 26bn 17% Comm

  61. Slide 61: Credit and private debt exposure

    Investments Credit and private debt exposure FY-25 rating of credit and private debt securities (%) USD 25.9bn USD 19.8bn USD 12.3bn USD 5.8bn USD 3.6bn USD 9.9bn 1% 3% 2% 1% 15% 10% 32% 27% 5% 27% 38% 47% 51% 30% 55% 82% 72% 31% 12% 2% 10% 19% 17% 1% 6% 1% Non-financial credit Financial credit Muni

  62. Slide 62: Calculation of like-for-like growth

    Alternative performance measures Calculation of like-for-like growth Like-for-like growth FY-24 (USDm) FY-25 (USDm) Like-for-like Business KPI Rep M&A/Other Adj Rep FX M&A/Other1 Adj1 (%) P&C GWP 46,624 (127) 46,497 50,422 (326) (1,261) 48,834 5% P&C Insurance revenue 44,792 (115) 44,677 48,234 (462

  63. Slide 63: Other information

    Other information 63 © Zurich

  64. Slide 64: For further information

    For further information Call us Visit or follow us Investor Relations and Rating Agency Management • Jon Hocking +41 44 628 18 34 • Francesco Bonsante +41 44 628 00 68 • Samuel Han +41 44 625 32 57 • Johannes Herholdt +41 44 625 25 53 Investor Relations website Financial results and reports Events •

  65. Slide 65: Thank you

    Thank you Upcoming events • May 13, 2026 – Update for the three months ended March 31, 2026 • August 6, 2026 – Half year results 2026 • November 12, 2026 – Update for the nine months ended September 30, 2026 ©©Zurich Zurich

Zurich Insurance Group — FY2025 Earnings Presentation on 6ix