By Max Bernhard
Zurich Insurance Group AG (ZURN.EB) on Thursday set out new financial targets for the coming three years, and said that it plans to grow its retail offering and customer base, as well as improve its commercial portfolio.
Zurich said for the 2020 to 2022 period it targets a business operating profit after tax return on equity above 14%. It also aims to grow that figure over time, the company said.
Over the period, Zurich expects earnings per share to grow organically by at least 5% a year and aims for cash remittances of more than $11.5 billion.
The company said it would stick to its dividend policy, targeting a pay-out ratio of about 75% of net profit.
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