Zurich’s gross written premium from property and casualty business rose 17% in the first quarter to $US15.6 billion ($21.5 billion).

The result was up 8% when accounting for the weaker US dollar, and the insurer says the growth was supported by pricing increases.

The life division reported a 5% increase in GWP to $US9.9 billion ($13.6 billion), although there was a 5% decline on a like-for-like basis.

All Zurich’s businesses started the year strongly, according to group CFO Claudia Cordioli.

Commercial insurance GWP grew 9% on a like-for-like basis, driven by strong demand, including for AI data centre cover.

The group tapped into a favourable pricing environment to increase its reinsurance for property catastrophe and US casualty risks at the January and April renewals.

Zurich says it has limited exposure to conflict in the Middle East.