The Swiss insurer Zurich CH0011075394 remains on a growth path.

Thanks to higher prices in the first quarter, the Group's revenues increased significantly. In the property and casualty business, the Group again succeeded in pushing through higher premiums for its customers, as it announced in Zurich on Thursday. New life insurance business grew significantly.

In property and casualty insurance, insurance revenue grew by five percent to $10.8 billion. In life insurance, gross premiums increased by 18 percent to almost $9.4 billion. The so-called present value of premiums in new business was almost $5.1 billion, 27 percent higher than in the same period last year. Present value is the conversion of expected income to a reference-date value.

As is customary for the first quarter, Zurich did not disclose any earnings figures. The result was nevertheless impacted by the devastating wildfires in California. Natural disaster losses consumed 3.2 percent of income in the property and casualty business, the company added. This figure was double that of the previous year.