Zurich Insurance Group's Q3 update shows solid premium growth, especially in Life & Health and Farmers divisions. We now have supportive evidence that ZURVY improved its cost management on lower Nat-cat losses. Zurich's financial strength is highlighted by a 257% Solvency II ratio and potential for higher shareholders' remuneration. Guidance remains intact, and so does our valuation. Buy confirmed.
Zurich Insurance remains a quality European insurer with strong capitalization and a 5.2% forward dividend yield, but limited upside potential. ZURVY's operational performance is solid, with growth in gross premiums and record profits in core segments, yet bottom-line growth is muted. The company's premium valuation, conservative capital return policy, and modest growth targets justify a 'Hold' rating despite attractive income.
Zurich Insurance delivered record H1 results, with sector-leading EBIT, ROE, and broad-based profit growth across all divisions, validating our buy thesis. Our investment thesis is supported by rising individual risk aversion and robust capital allocation. With a 10% total return outlook and continued EPS momentum, ZURVY remains a top pick for growth and yield in the insurance sector.
Zurich Insurance Group AG (OTCQX:ZURVY) Q2 2025 Earnings Conference Call August 7, 2025 7:00 AM ET Company Participants Claudia Cordioli - Group CFO & Member of Executive Committee Mario Greco - Group CEO & Member of Executive Committee Mitchell Todd - Corporate Participant Conference Call Participants Andrew Baker - Goldman Sachs Group, Inc., Research Division Andrew Sinclair - BofA Securities, Research Division Andrew John Crean - Bernstein Autonomous LLP Dominic Alexander O'Mahony - BNP Paribas Exane, Research Division Fahad Usman Changazi - Kepler Cheuvreux, Research Division James Austin Shuck - Citigroup Inc., Research Division Kamran Mark Hossain - JPMorgan Chase & Co, Research Division Michael Igor Huttner - Joh. Berenberg, Gossler & Co. KG, Research Division Vinit Malhotra - Mediobanca—Banca di credito finanziario S.p.A.
Zurich's recent financial performance has been strong, with earnings growth, profitability, and capital ratios exceeding targets, leading to increased medium-term goals for 2025-27. The company has shown robust growth in P&C and Life segments, with significant improvements in operating earnings and a strong capital position supporting dividend growth. Despite positive trends, Zurich's high valuation, trading at 3.9x book value and 15.6x forward earnings, suggests overvaluation compared to peers like AXA and Allianz.
Zurich Insurance Group's Q1 results showed solid P&C premiums, strong Life business growth, and a higher-than-expected Solvency II ratio of 256%. We forecast a CHF 1 billion share buyback, driven by strong solvency and operating cash flow, complementing a 4.7% dividend yield. With projected EPS growth of 9% and a high RoE, we raised our target price and confirmed our buy rating.
Zurich Insurance: Supportive Fundamentals With EPS Growth And Defensive CHF Yield
Zurich Insurance Group AG (OTCQX:ZURVY) Q4 2024 Results Conference Call February 20, 2025 9:00 AM ET Company Participants Mitchell Todd - Head of Investor Relations Mario Greco - Chief Executive Officer Claudia Cordioli - Chief Financial Officer Conference Call Participants Andrew Sinclair - BofA Global Research Andrew Baker - Goldman Sachs Michael Huttner - Berenberg Andrew Crean - Autonomous Research Kamran Hossain - J.P. Morgan William Hawkins - KBW Will Hardcastle - UBS Dominic O'Mahony - BNP Paribas Exane Vinit Malhotra - Mediobanca Fahad Changazi - Kepler Cheuvreux Marcus Rivaldi - Jefferies Mitchell Todd Good afternoon, everybody, and welcome to Zurich Insurance Group's Full Year 2024 Results Q&A Call.
Investors looking for stocks in the Insurance - Multi line sector might want to consider either Zurich Insurance Group Ltd. (ZURVY) or Goosehead Insurance (GSHD).
Recent LA wildfires are expected to cause significant insured losses, with estimates ranging from $20-30 billion, impacting the California homeowners insurance market. Major insurers like State Farm and Farmers Insurance are likely to manage the impact, but smaller companies like Mercury General may face greater challenges. Zurich Insurance Group AG's indirect exposure through Farmers is limited, with reinsurance coverage and strong capital position mitigating potential financial impacts.
Mario Greco, the CEO of Zurich Insurance, discusses the U.S.' withdrawal from the Paris Agreement, European regulation and the California wildfires as he attends the World Economic Forum in Davos.
Investors with an interest in Insurance - Multi line stocks have likely encountered both Zurich Insurance Group Ltd. (ZURVY) and Goosehead Insurance (GSHD).