LONDON (Reuters), Zurich Insurance’s targets for 2022 could be exceeded, as Zurich Insurance has shown good results during the COVID-19 epidemic.

The fifth largest insurer in Europe set ambitious targets for the next three years. This included raising the target of business operating profit after tax return to equity (BOPAT ROE), from its previous goal at more than 12%.

Greco stated that “we’re in the race for shareholders to meet all of our targets 2022… we could even surpass those targets,” in an interview with Reuters Breakingviews.

The outlook for the industry was not good when coronavirus became endemic in 2020. They have managed to remain profitable despite excluding COVID-19 in many of their policies and increasing premiums.

Greco indicated that commercial insurance was set to experience strong growth due to rising premium rates as well as increased coverage demand.

He stated that both emerging and traditional markets, such as Brazil and Switzerland, offer growth potential.

He said that acquisitions would not always bring about growth.

A business that needs to be transformed isn’t a good option if you are looking for a way to change yourself. We believe that the best solution is not acquisition. Customers need to be provided with the right information.

Zurich will release full-year 2021 results Feb. 10.