Zurich announces record profits and growth in 2024

Impact of California wildfires

Zurich reported that the Farmers Exchanges faced an estimated pre-tax loss of $600 million from the 2025 California wildfires, with an additional $250 million in reinstatement premiums. Zurich’s own exposure, including Farmers Re, is estimated at $200 million. Despite these losses, the company’s strong capital base ensures its ability to manage such events.