Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

ZURICH INSURANCE GROUP LTD

(ZURN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Zurich Insurance : AM Best Affirms Credit Ratings of Farmers New World Life Insurance Company and Farmers Reinsurance Company

10/05/2020 | 05:12am EST

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of 'a+' of Farmers New World Life Insurance Company (FNWL) (Bellevue, WA).

At the same time, AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of 'a' of Farmers Reinsurance Company (Farmers Re) (Woodland Hills, CA). In addition, AM Best has affirmed the Long-Term ICR of 'a' of Farmers Group, Inc. (FGI) (Nevada). Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of 'bbb+' of the surplus notes (see below for a detailed list). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the Long-Term ICR of FGI as the company has requested to no longer participate in AM Best's interactive rating process.

The ratings reflect FNWL's balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM). The ratings also recognize the continued strategic value FNWL provides to its ultimate parent, Zurich Insurance Group Ltd, in marketing primarily life insurance products through a network of exclusive Farmers agents.

Additionally, the ratings are supported by risk-adjusted capitalization being maintained at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), the company's historically positive earnings trend and material contributions to the overall group in terms of new business value and operating profits. Partially mitigating factors include relatively flat premium trends, high use of reinsurance through highly rated unaffiliated and affiliated entities and muted capital growth, as earnings historically have been offset by dividends to its parent.

The ratings of Farmers Re reflects its balance sheet strength, which AM Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate ERM. The ratings also reflect the company's strategic importance to the Zurich group.

The following Long-Term IRs have been affirmed with a stable outlook:

Farmers Insurance Exchange-

'bbb+' on USD 300 million 8.625% surplus notes, due 2024 (USD 203.4 million outstanding)

'bbb+' on USD 400 million 4.747% surplus notes, due 2057

Farmers Exchanges-

'bbb+' on USD 500 million 7.05% surplus notes, due 2028 (USD 375.0 million outstanding)

'bbb+' on USD 150 million 7.2% surplus notes, due 2048 (USD 138.5 million outstanding)

'bbb+' on USD 335 million 6.151% surplus notes, due 2053

'bbb+' on USD 500 million 5.454% surplus notes, due 2054

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper media use of Best's Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

(C) 2020 Electronic News Publishing, source ENP Newswire

All news about ZURICH INSURANCE GROUP LTD
11/24ZURICH INSURANCE GROUP : Gets a Buy rating from Barclays
MD
11/23GLOBAL MARKETS LIVE: Boeing’s 737 Max to resume flights in Europe, Merck’s la..
11/23NEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
11/23European Insurers Gear Up to Do Deals
DJ
11/23NEWS HIGHLIGHTS : Top Company News of the Day
DJ
11/23NEWS HIGHLIGHTS : Top Company News of the Day
DJ
11/23NEWS HIGHLIGHTS : Top Financial Services News of the Day
DJ
11/22NEWS HIGHLIGHTS : Top Company News of the Day
DJ
11/22STEVE WYNN : Top Company News of the Day
DJ
11/20EXCLUSIVE : Zurich Insurance nears £3 billion deal for MetLife unit - sources
RE
More news
Financials
Sales 2020 45 141 M 49 750 M 49 750 M
Net income 2020 2 798 M 3 084 M 3 084 M
Net Debt 2020 4 504 M 4 964 M 4 964 M
P/E ratio 2020 19,1x
Yield 2020 5,26%
Capitalization 54 933 M 60 615 M 60 543 M
EV / Sales 2020 1,32x
EV / Sales 2021 1,22x
Nbr of Employees 55 000
Free-Float 98,0%
Chart ZURICH INSURANCE GROUP LTD
Duration : Period :
Zurich Insurance Group Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ZURICH INSURANCE GROUP LTD
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 380,76 CHF
Last Close Price 368,90 CHF
Spread / Highest target 16,6%
Spread / Average Target 3,21%
Spread / Lowest Target -22,7%
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 GROUP LTD-7.10%60 615
ALLIANZ SE-9.50%97 530
CHUBB LIMITED-5.03%68 339
MARSH & MCLENNAN COMPANIES2.65%58 002
BAJAJ FINSERV-6.76%18 827
HARTFORD FINANCIAL SERVICES GROUP (THE), INC.-24.58%16 422