Zurich Portugal increases salaries retroactively to January and renews benefits package

Zurich has decided to increase the base salaries of all employees and renew the benefits package for this year, the insurer announced in a statement.

“These measures are being reflected in salary processing for this month of April, with retroactive effect to January 2024”, details Zurich.

Base salaries were increased between 4.08% and 6.96%.

“Zurich is guaranteeing an increase to the level of the 2023 inflation rate for all employees, with higher percentage increments being applied to lower salary brackets and vice versa”, reveals the insurer.

The meal allowance was also updated to 12.50 euros/day and the “Zurich Saúde” health insurance now covers up to three members of the household.

Zurich Portugal is part of the Zurich Insurance Group, has been in Portugal for 105 years, has more than 500 employees and a distribution network with more than 1,800 insurance agents, brokers and banking partnerships, serving more than 750 thousand customers.

Helene Westerlind, CEO of Zurich in Portugal says that at the insurance company “we value the enormous commitment and dedication of our employees and we recognize that each one of them is fundamental to our success. These measures reflect our commitment to competitive, fair and equitable compensation and are aligned with our ambition to be recognized as a top employer in Portugal.”

In 2023, Zurich had applied a similar package throughout the organization, which included an increase in the base salaries of all employees between 7 and 15%, an increase in the meal allowance and hybrid work allowance and had updated the grants from the Zurich Graduate Program – annual intern admission program – for one thousand euros/month.

Nuno Oliveira, Chief People & Culture Officer at Zurich Portugal, he talks about “continuous commitment with the aim of creating a real and positive impact on the lives of our people and their families”.

“This is the second year in a row that we are undertaking this effort, another step we are taking to reinforce the recognition of our employees’ performance and increase their financial well-being”, he says.