Report
Benoit Valleaux

Zurich Insurance : The stock offers upside below the sector average

>We expect BOP of $ 4.046bn in 2020, close to the consensus - Zurich Insurance will release its 2020 results on Thursday 11 February before trading. We forecast business operating profit of $ 4.046bn in 2020 (-31.4% vs 2019), very slightly above the consensus ($ 4.026bn). In P&C insurance we forecast a combined ratio of 98.4% in 2020 (vs 96.4% in 2019), in line with the consensus. Our estimate includes zero COVID costs on a net basis (i.e. after gains on lower claims ...
Underlying
Zurich Insurance Group Ltd

Zurich Insurance Group is a multi-line insurance company. Co. provides a range of general insurance and life insurance products and services, serving individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. Co.'s business segments include: General Insurance, which provides property and casualty insurance and services, risk insights; Global Life, which provides protection, savings and investment solutions; and Farmers, which provides management services related to property and casualty insurance.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Benoit Valleaux

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