Zurich’s Property & Casualty (P&C) gross written premium (GWP) rose 7% in the first nine months of the year, as most regions saw improvement and rate gains accelerated in the most recent quarter.

Asia Pacific increased 14% on a like-for-like basis – which excludes currency fluctuations and acquisitions – on growth in Australia, Malaysia and Japan.

North America grew by 4% in the nine months. In the third quarter, North America achieved overall rate increases of more than 7%, as well as improved terms and conditions.

“In P&C, pricing continues to increase, supporting growth and continued improvement in the portfolio,” CFO George Quinn said, adding targets set in 2016 would be exceeded.

In Europe, the Middle East and Africa, P&C GWP increased 6%, with strong growth in Swiss and UK commercial business. Italy, Spain and several smaller European retail markets also grew.

Latin America P&C GWP grew 21%, driven by Brazil, Chile and Argentina.

After very moderate claims related to natural catastrophes and weather in the first half of the year, the third quarter was more in line with historical levels, Zurich said.