2Q 2017: Zurich Is Turning a U.S. Commercial Corner
Zurich Insurance reported a good set of operational results. Underlying operating profit for the first half was up just under 15%, with operating profit for the quarter of $600 million. We are pleased to see evidence that Zurich is getting on top of its problems, and are therefore raising our fair value estimate to CHF 290 per share, to account for a better outlook for property-casualty and a change in currency rates. We maintain our narrow moat rating.Within nonlife, premiums have stabilised, ...
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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.
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