Zurich can get back on track but doesn't have a moat.
Zurich Insurance reported good first-half results after a disappointing full-year 2015. Restoration primarily stemmed from the profitability of the general insurance unit, and we plan to maintain our fair value estimate of CHF 258 per share, along with our no-moat rating.General insurance operating profit was 3.5% ahead of year-ago levels at $1.2 billion. Rate changes were solid and positive across the board, and the firm confirmed lower but sustainable loss ratios. Expense ratios were broadly ...
Zurich Insurance Group is a multi-line insurance company. Co. provides a range of general insurance and life insurance products and services, serving individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. Co.'s business segments include: General Insurance, which provides property and casualty insurance and services, risk insights; Global Life, which provides protection, savings and investment solutions; and Farmers, which provides management services related to property and casualty insurance.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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