Zurich Insurance Group is stepping up its game in the middle market and specialty insurance sectors with a big push to hire top underwriting talent this year. The company has already brought on board more than 100 new underwriters in the United States alone, spread across over 30 locations. They are also opening five new U.S. offices to support this growth.
Claudia Cordioli, Zurich’s Chief Financial Officer, shared these updates during a recent earnings call discussing the company’s performance for the third quarter. She said the new hires are expected to start generating business next year, with each underwriter bringing in premiums of around $8 million to $9 million.
To strengthen its specialty lines, Zurich is setting up a dedicated global specialty unit in London. This team will focus on managing and growing Zurich’s $9 billion portfolio of diverse specialty risks. The company believes this area, which requires specialized knowledge, will help deliver solid earnings and shareholder returns over the long term.
Zurich is also benefiting from a strong middle market business that makes up about 40% of its gross written premiums internationally, highlighting its global reach. Cordioli noted that the business has balanced out reductions in some parts of the U.S. program that didn’t meet Zurich’s high underwriting standards.
For the first nine months of 2025, Zurich’s property and casualty business hit a record $38.9 billion in gross written premiums, an 8% increase from last year. This growth came from strong retail sales, which jumped 16%, and steady gains in commercial insurance.
The company’s focus on smart pricing, customer segmentation, and claims management is also paying off. Zurich reported improved margins, supported by selective underwriting and careful portfolio management. This approach has helped reduce its exposure to U.S. hurricane losses by 25% over the past four years.
While insurance rates are softening in some areas, they remain strong or are increasing in others. For example, commercial motor insurance in the U.S. saw rates climb by 15%, driven by sustained loss trends. Financial lines insurance is also starting to see rate increases again after a period of slowing growth.
Zurich’s strategy of careful risk selection and targeted growth has helped improve its combined ratios this year, making the market attractive for writing profitable business.
One bright spot is Zurich’s construction insurance business, which saw a 5% increase in rates, boosting profitability. The combined ratio for this segment is better than the average for specialty lines, showing solid performance.
Another positive update came from the Farmers Exchanges, a group of policyholder-owned insurers. Although Zurich does not own these exchanges, it provides some services through its subsidiary. The Farmers Exchanges grew their premiums by 5% in the first nine months of 2025 and increased policyholder retention and new business. Policy counts rose by over 100,000 in the last six months, marking the first organic growth in over ten years.
Overall, Zurich is making clear moves to expand and strengthen its insurance business, especially in middle market and specialty lines, backed by skilled underwriters and smart risk strategies. The company expects these efforts to lead to profitable growth in the coming years.