LONDON, (Reuters) – Zurich Insurance may exceed its financial targets in 2022 because the company has done well during the COVID-19 pandemic. CEO Mario Greco stated Wednesday.

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 said in an interview to Reuters Breakingviews that “we are fully committed to the race to deliver all our targets to shareholders for 2022… we even can exceed those targets.”

When the coronavirus epidemic hit in the early 2020s, insurers were worried about the future of the industry. They are still profitable, despite the fact that COVID-19 was removed from many insurance policies and premiums raised.

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.

However, acquisitions are not the only way to grow your business.

It is not the best way to go about transforming yourself. We believe that the best solution is not acquisition. Customers need to be provided with the right information.

Zurich will announce full year 2021 results February 10.