Zurich Insurance Reports In-Line Revenue in 1Q
Zurich Insurance reported results for the first quarter of 2018. These results focus on revenue and so provide little insight into the development of the business. We maintain our CHF 312 fair value estimate and narrow moat and stable moat trend ratings.The life division reported a more than 10% increase in annual premium equivalent and a new business margin and value of 25.2% and $273 million, respectively. New business is down marginally, with drivers of change coming from lower growth in EM...
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