"It is certainly our intention to increase the dividend, but I can't comment on what will happen this year," Chief Financial Officer George Quinn told reporters during a conference call.
He noted that Europe's fifth-largest insurer already returns 75 percent of its profits to investors, dismissing the possibility of using its strong balance sheet to launch share buybacks as well.
"It is our preference to try to use that additional capital to actually support growth in new business, which will eventually support growth in earnings, which will again support dividend growth. That is our top priority "Quinn stated.
Zurich's shares fell 2% in early trading, with analysts saying the company's solid performance was insufficient to propel the stock higher.
Premiums for property and casualty insurance increased 14 percent to $31.15 billion in the first nine months.
These premiums continue to benefit from the improved pricing environment, and recent claims events are likely to extend the "hard" market, according to Quinn's results release, which did not include profit figures.
In the third quarter, major flooding in Germany, a series of other weather events in Europe in July, and Hurricane Ida in the United States all hit home. Quinn estimated that Ida alone would cost $450 million, and that flood claims would cost $150-200 million, as previously estimated.
Despite catastrophe losses that are 3 to 4 percentage points higher than the long-term average, Zurich was profitable.
On a like-for-like basis that accounts for currency movements, acquisitions, and disposals, its life insurance new business annual premium equivalent (APE) increased by 5% in the first nine months.
"We continue to see areas of COVID-related excess mortality within Life," the company said. "However, the overall strength of the business allows this to be absorbed without having a material impact on the segment's financial results."
As of September 30, its Swiss Solvency Test (SST) capital ratio was estimated to be 203 percent, well above its target of at least 160 percent.