Zurich Insurance AG (Zurich) reported its highest-ever annual profit for 2025, driven by a standout performance at its non-owned U.S. business and the quietest catastrophe year in recent memory. Operating profit reached $8.9 billion, net income attributable to shareholders was $6.8 billion, and core return on equity hit 26.9%. Core earnings per share climbed 13% to $45.10, reflecting strong underlying performance. The board proposed a dividend of CHF 30 per share, a 7% increase from CHF 28, subject to shareholder approval, payable from April 14, 2026. The group's largest division, Swiss Re, contributed a record $5.1 billion operating profit, up 22%, supported by $50.4 billion in gross written premiums and an improved combined ratio of 92.6%.