Report
Henry Heathfield, CFA
EUR 101.80 For Business Accounts Only

Zurich Reports a Flat Third Quarter of 2017

Zurich Insurance released third-quarter results showing flat premiums in both life and property and casualty insurance. Zurich has moved to quarterly reporting of high level revenue metrics, as opposed to a full earnings release. We are maintaining our fair value estimate at CHF 290 per share and our narrow moat rating.
The basis of our moat for Zurich comes down to two divisions: Farmers Management Services and Global Corporate & Commercial. Farmers provides nonclaims administrative and man...
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, CFA

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