Report
Henry Heathfield
EUR 101.80 For Business Accounts Only

Zurich Insurance Group's Improvement Is Currently Proving Challenged

Zurich Insurance Group reported full-year 2016 results slightly ahead of our expectations in terms of net income though we believe slightly below broader market expectations. We still believe the business looks slightly overvalued though we think Zurich has maintained its overall competitive position. We therefore maintain our CHF 264 fair value estimate and narrow moat rating.
Net income for the group for the year came in at USD 3.2 billion, slightly ahead of our USD 3.1 billion estimate, havin...
Underlying
Zurich Financial Services AG ADS

Provider
Morningstar
Morningstar

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.

Analysts
Henry Heathfield

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