Gratifying business year for GVZ
Fire and natural hazards claims at Gebäudeversicherung Zürich 2020 increased significantly compared to the previous year. Despite higher loss amounts, the financial year was pleasing for GVZ.
The building insurance of the canton of Zurich shows a total damage amount of 57.3 million Swiss francs in the financial year 2020. Compared to the previous year (2838 reports), the GVZ processed a total of 7179 claims, of which 1022 were fire and 6157 natural hazards. In the case of fire and natural hazards, the figures are in line with the average for the year. This amounts to 39 million Swiss francs for fire claims and 19 million Swiss francs for natural hazards claims.
Gross premiums in 2020 had increased by 1.36 percent to 129.3 million francs compared to the previous year. At the same time, fire protection levies increased to 36.2 million francs (previous year: 35.8 million francs). This increase was related to the ongoing construction activity in the canton of Zurich and to the increase in insurance capital. The fire protection levy included in the insurance premium serves to finance preventive and defensive fire protection measures and to provide financial support for the fire departments in the canton of Zurich.
Despite a higher loss amount and the impact of the Covid 19 pandemic on the investment result, GVZ closed the 2020 financial year with a gratifying
total result of 85.5 million Swiss francs.
Source: GVZ
