August 10, 2017 / 6:58 AM / a year ago

Zurich Insurance CEO says well placed for dividend growth

ZURICH, Aug 10 (Reuters) - Zurich Insurance is well positioned to fulfill its ambition of growing its dividend over time, Chief Executive Mario Greco told journalists following the group's half-year results.

"Definitely, the combination of the strong profit improvement and strong capital position makes us believe in what we said in November, that we will be able to remunerate shareholders more and better over time, and that we will do this through dividends," Greco said. "It's too early for any final conclusions, but so far the indication of the year has been quite positive."

Zurich said its solvency measured under the Zurich Economic Capital Model stood at 134 percent as of end-June, well above the target range of 100–120 percent and marking a 9 percent rise since the start of the year.

Greco also said the group's strategy does not depend on acquisitions and declined to comment on reports regarding possible ongoing deals. (Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

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