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Zurich Insurance Group (CH:ZURN)
:ZURN
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Zurich Insurance Group
(OTC:ZURN)
Rating:76Outperform
Price Target:―
Zurich Insurance Group (ZURN) vs. iShares MSCI Switzerland ETF (EWL)
Market Cap
CHF82.34B
Dividend Yield4.45%
Average Volume (3M)217.33K
Price to Earnings (P/E)16.3
Beta (1Y)0.88
Revenue Growth7.12%
EPS Growth32.22%
CountryCH
Employees60,000
SectorFinancial
Sector Strength82
IndustryInsurance - Diversified
Share Statistics
EPS (TTM)16.03
Shares Outstanding146,355,760
10 Day Avg. Volume186,580
30 Day Avg. Volume217,334
Financial Highlights & Ratios
PEG Ratio3.27
Price to Book (P/B)3.83
Price to Sales (P/S)0.00
P/FCF Ratio12.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
CHF549.00Price Target Upside-5.48% Downside
Rating ConsensusHold
Number of Analyst Covering10
Zurich Insurance Group Business Overview & Revenue Model
Company DescriptionZurich Insurance Group AG, together with its subsidiaries, provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific. The company operates through Property & Casualty Regions, Life Regions, Farmers, Group Functions and Operations, and Non-Core Businesses segments. It offers car, home, travel, general liability, life and critical illness, worker injury, and other insurance products; and saving and investment, and pension and retirement planning products. The company also provides property, casualty, management or professional liability, trade credit, political risk, marine, cyber risk, and financial institution insurance products. In addition, it offers employee benefit insurance products; reinsurance services; and non-claims and ancillary services to the farmers' exchanges. It serves individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The company sells its products through agents, brokers, and bank distribution channels. Zurich Insurance Group AG was founded in 1872 and is based in Zurich, Switzerland.
How the Company Makes MoneyZurich Insurance Group generates revenue primarily through the underwriting of insurance policies across its property and casualty, and life insurance sectors. The company earns premiums from these policies, which form a significant part of its income. Additionally, Zurich invests the premiums it collects in various financial instruments, generating investment income. The firm also offers risk management services, customer advisory, and claims management, adding to its revenue streams. Strategic partnerships with intermediaries, such as brokers and agents, enhance its distribution capabilities, broadening its market reach and customer base, which contributes to its profitability.
Zurich Insurance Group Earnings Call Summary
Earnings Call Date:Feb 20, 2025
(Q4-2024)
| % Change Since: 8.45%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Positive
Zurich Insurance Group reported a strong financial year with record-breaking BOP, increased core ROE, and robust cash remittances, indicating positive business momentum. The Life and Property & Casualty segments showed significant growth, and Farmers maintained strong profitability. However, challenges included financial impacts from the California wildfires and a decrease in Farmers' Policies in Force. Overall, the highlights significantly outweigh the lowlights, indicating a positive sentiment.Q4-2024 Updates
Positive Updates
Record Group BOP
Zurich Insurance Group achieved a record group Business Operating Profit (BOP) of $7.8 billion, up 5% year-over-year, reflecting strong business momentum.
Core ROE Increase
The company generated a core Return on Equity (ROE) of 24.6%, an increase of 1.6 percentage points from 2023, demonstrating efficient capital allocation.
Healthy Cash Remittances
Cash remittances were $7.1 billion, reflecting a high cash conversion on NIAS earnings, up 34% in the year.
Life Business Growth
Life BOP grew 9% like-for-like to a record $2.2 billion, with strong growth in protection and unit-linked products. Life gross premiums and new business premiums grew 4% and 5%, respectively.
Property & Casualty Business Growth
The Property and Casualty business continued to grow with gross written premiums up 5% on a like-for-like basis. The segment achieved an absolute profitability with a 94.2% combined ratio and BOP up 8% to $4.2 billion.
Farmers BOP Achievement
Farmers delivered a healthy BOP of $2.3 billion, in line with the record level reached last year, with a full-year combined ratio of 91.4%.
Strong Capital Position
Zurich Insurance Group entered 2025 with a resilient balance sheet and strong capitalization, with the SST ratio closing the year 2024 at 252%.
Negative Updates
California Wildfire Impact
The financial impact on Zurich Insurance from the California wildfires is estimated at $200 million, including Farmers Re.
Farmers PIF Decline
Farmers' Policies in Force (PIF) decreased by 8% in 2024, with a continued loss of customers, although the pace of loss decreased in the second half of the year.
Crop Business Combined Ratio
The Crop business had a combined ratio above 100% in 2024, with a slight improvement expected in 2025.
Company Guidance
In the Zurich Insurance Group's Full Year 2024 Results Q&A Call, Group CEO Mario Greco highlighted key financial achievements, including a record group business operating profit (BOP) of $7.8 billion, which represents a 5% increase year-over-year. The company also reported a core return on equity (ROE) of 24.6%, up 1.6 percentage points from the previous year, and cash remittances of $7.1 billion, reflecting a 34% increase in NIAS earnings. The Life business segment achieved a record BOP of $2.2 billion, growing 9% like-for-like, while the Property & Casualty segment saw gross written premiums rise by 5% with a combined ratio of 94.2% and an 8% increase in BOP to $4.2 billion. Farmers reported a stable BOP of $2.3 billion with a significant improvement in the combined ratio to 91.4% from 103.3% in 2023. Additionally, the company's SST ratio closed at 252%, supporting Zurich's strong financial position and strategic growth initiatives. The guidance indicates a robust future outlook with a target compounded annual growth rate of over 9% in core EPS and cumulative cash remittances exceeding $19 billion by 2027.Zurich Insurance Group Financial Statement Overview
Summary
Income Statement
Balance Sheet
Cash Flow
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 76.96B | 77.75B | 74.69B | 41.42B | 70.06B | 58.62B | Gross Profit |
| 75.42B | 77.75B | 69.96B | 41.42B | 70.06B | 58.62B | EBIT |
| 59.58B | 0.00 | 71.11B | 6.48B | 4.75B | 3.31B | EBITDA |
| 35.77B | 9.82B | 6.83B | 7.28B | 5.60B | 4.22B | Net Income Common Stockholders |
| 4.88B | 5.81B | 4.35B | 3.96B | 5.20B | 3.83B |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 6.69B | 112.65B | 100.25B | 114.43B | 160.61B | 26.01B | Total Assets |
| 424.57B | 358.00B | 361.38B | 377.78B | 435.83B | 439.30B | Total Debt |
| 12.17B | 14.43B | 15.46B | 15.67B | 16.99B | 15.86B | Net Debt |
| 5.48B | 7.66B | 8.18B | 8.11B | 8.29B | 4.75B | Total Liabilities |
| 12.17B | 331.07B | 335.10B | 349.87B | 396.66B | 399.45B | Stockholders Equity |
| 32.93B | 25.47B | 24.86B | 26.63B | 37.88B | 38.28B |
| Cash Flow | Free Cash Flow | ||||
| 7.49B | 7.23B | 6.93B | 4.51B | 2.59B | 5.15B | Operating Cash Flow |
| 7.89B | 7.60B | 7.34B | 5.08B | 3.17B | 5.70B | Investing Cash Flow |
| -1.79B | -1.40B | -1.13B | -691.00M | -2.89B | -496.00M | Financing Cash Flow |
| -5.90B | -6.37B | -7.00B | -5.27B | -2.29B | -2.67B |
Zurich Insurance Group Technical Analysis
Positive
580.80
Price Trends
572.21
Positive
558.38
Positive
528.38
Positive
Market Momentum
2.00
Positive
53.04
Neutral
56.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:ZURN, the sentiment is Positive. The current price of 580.8 is above the 20-day moving average (MA) of 580.52, above the 50-day MA of 572.21, and above the 200-day MA of 528.38, indicating a bullish trend. The MACD of 2.00 indicates Positive momentum. The RSI at 53.04 is Neutral, neither overbought nor oversold. The STOCH value of 56.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:ZURN.
Zurich Insurance Group Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | €1.79B | 12.19 | 5.89% | 3.92% | 7.25% | 10.96% | |
76 Outperform | CHF41.72B | 14.97 | 16.71% | 3.91% | -0.56% | ― | |
76 Outperform | CHF82.34B | 16.29 | 23.10% | 4.45% | 7.12% | 32.22% | |
73 Outperform | $23.50B | 19.46 | 16.43% | 3.95% | 0.44% | 14.07% | |
67 Neutral | CHF8.66B | 22.64 | 4.22% | -4.03% | 60.24% | ||
66 Neutral | CHF10.19B | 21.37 | 3.49% | 11.93% | 70.26% | ||
64 Neutral | $12.76B | 9.77 | 7.59% | 16985.66% | 12.30% | -7.71% |
* Financial Sector Average
Performance Comparison
CH:ZURN
Zurich Insurance Group
581.20
128.67
28.43%
CH:BALN
Baloise Holding AG
193.00
44.74
30.18%
CH:HELN
Helvetia Holding AG
193.30
77.52
66.95%
CH:SLHN
Swiss Life Holding AG
827.60
222.54
36.78%
CH:SREN
Swiss Re AG
144.75
37.25
34.65%
CH:VAHN
Vaudoise Assurances Holding SA
625.00
210.77
50.88%
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.