Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Zurich Insurance Group    ZURN   CH0011075394

ZURICH INSURANCE GROUP

(ZURN)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Zurich Insurance : completes the acquisition of ANZ's life insurance business OnePath Life

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/02/2019 | 03:09pm EDT
  • Zurich expands its bank distribution footprint attracting up to 6 million new customers in Australia.
  • The acquisition, first announced in December 2017, reinforces Zurich's strategy of focusing on protection and less capital-intensive savings products.
  • The acquisition is fully in line with Zurich's overall M&A strategy, focused on building leading positions in attractive markets while releasing capital from non-core operations.

As part of the transaction, Zurich's existing independent financial adviser (IFA) and bank distribution channels in Australia will be broadened by a 20-year agreement with ANZ to distribute life insurance products through bank channels. This cooperation agreement strengthens Zurich's business by giving it access to ANZ's customer base served through more than 630 branches, and additional capabilities in independent distribution channels. After this acquisition Zurich will have a market share of around 20 percent in retail life and 6 percent in the local group life market.

'Zurich is strengthening its business in Australia and we can now engage with up to 6 million new customers with this acquisition of One Path Life and the access to ANZ's distribution channels. Asia Pacific is a key region for Zurich and this deal adds further complementary products and additional bancassurance distribution capacity in the region,' said Group Chief Executive Officer Mario Greco. 'OnePath Life's retail business, focused on protection and savings products, is perfectly aligned with our strategy in life insurance and should further add to our strong cash remittances.'

Since Zurich laid out its strategic three-year plan in November 2016, the Group has made significant progress in improving the overall business mix and has strengthened its customer focus. The Group has improved its geographic focus through a clear M&A strategy. This has seen the Group release capital through the exit of a number of non-core businesses, while reinvesting in a series of bolt-on acquisitions. These acquisitions have been focused on creating leadership positions in chosen market segments in key geographies, including Australia, Argentina, Indonesia and in the U.S.

Disclaimer

Zurich Insurance Group AG published this content on 02 June 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 02 June 2019 19:08:02 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ZURICH INSURANCE GROUP
07/10ZURICH INSURANCE : Appoints Alison Martin as Head of EMEA
DJ
07/09ZURICH INSURANCE : appoints Alison Martin as CEO EMEA and Bank Distribution
PU
07/03ZURICH INSURANCE : Amanda Blanc resigns as CEO EMEA of Zurich
AQ
07/03ZURICH INSURANCE : Head of EMEA Amanda Blanc Resigns
DJ
07/01ZURICH INSURANCE : announces early redemption of EUR 425 million of dated subord..
AQ
06/28ZURICH INSURANCE : announces early redemption of EUR 425 million of dated subord..
PU
06/28ZURICH INSURANCE : zahlt nachrangige Anleihe in Höhe von EUR 425 Millionen vorze..
PU
06/25ZURICH INSURANCE : Ends New Investments and Insurance in Dirty Fossil Fuels
DJ
06/25ZURICH INSURANCE : signs up to UN business pledge to limit global temperature ri..
PU
06/21ZURICH INSURANCE : People's protection in the new world of work
AQ
More news
Financials (CHF)
Sales 2019 50 179 M
EBIT 2019 5 386 M
Net income 2019 3 976 M
Debt 2019 11 573 M
Yield 2019 5,78%
P/E ratio 2019 13,0x
P/E ratio 2020 11,7x
EV / Sales2019 1,25x
EV / Sales2020 1,22x
Capitalization 51 396 M
Chart ZURICH INSURANCE GROUP
Duration : Period :
Zurich Insurance Group Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ZURICH INSURANCE GROUP
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 348,81  CHF
Last Close Price 349,00  CHF
Spread / Highest target 14,6%
Spread / Average Target -0,05%
Spread / Lowest Target -14,0%
EPS Revisions
Managers
NameTitle
Mario Greco Group Chief Executive Officer
Michel M. Liès Chairman
Kristof Terryn Group Chief Operating Officer
George Quinn Group Chief Financial Officer
Alison Jane Carnwath Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ZURICH INSURANCE GROUP19.00%52 321
ALLIANZ SE23.16%100 988
CHUBB LTD14.79%67 893
MARSH & MCLENNAN COMPANIES26.14%51 441
AMERICAN INTERNATIONAL GROUP INC41.94%48 654
HARTFORD FINANCIAL SERVICES GROUP (THE)28.48%20 645