Zurich Has Struggled Recently, but We Expect Improvement for This Moaty Insurer
We transfer coverage on Zurich Insurance with a fair value estimate of CHF 264 per share and assign a narrow moat rating.Zurich recently repeated some poor history, as $700 million of adverse development surfaced in the midst of a tentative $10 billion acquisition. Additionally, overconcentration of risk again led to a $275 million loss from the Tianjin port explosion. Sufficient reinsurance was not in place, and investors lost confidence in management. The firm brought in new CEO Mario Greco o...
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.
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