The Zurich 7% rise in P&C premiums landed Thursday, and it showed a Swiss insurance heavyweight with the wind at its back. Zurich Insurance (ZURN.S) reported that gross written premiums in its property and casualty business grew 7% over the first nine months of the year, reaching $42.1 billion.

The engine behind the climb was pricing. Higher rates in the company’s retail business did much of the heavy lifting, like a tide lifting every boat in the harbor.

Beazley Joins the Fold

Zurich also crossed a major milestone on the deal front. The company completed its acquisition of UK-based specialty insurer Beazley on Oct. 1.

A Confident Message From the CFO

Management did not hedge. “Our diversified business model and disciplined approach allow us to ... confirm our confidence that we will exceed all our targets,” Chief Financial Officer Claudia Cordioli said in a statement.

The Targets on the Table

Those targets are ambitious. Zurich is aiming for a compound annual growth rate of more than 9% and a core return on equity above 23% between 2025 and 2027.

Capital Strength Beats Expectations

The balance sheet gave the story a second headline. Zurich’s Swiss solvency test ratio reached 271%, two percentage points above analysts’ expectations, according to a company-provided poll. In an industry where capital cushions are watched as closely as a tightrope walker’s footing, that margin matters.