| Product Code | DAT10594 |
|---|---|
| Publication Date | November 2008 |
| Publisher | Datamonitor |
| Product Type | Report |
| Pages | 43 |
| ISBN Number | Premium Company Profile: Zurich |
Zurich Financial Services (Zurich Financial) is a leading Swiss based insurer that recorded revenues of $65,000 million in 2006. Globally, the group is the ninth largest insurer and fourth largest global property/casualty insurer. This profile offers a comprehensive review of Zurich Financial's operations and performance.
Zurich Financial is the ninth largest insurance provider and fourth largest property insurance provider in the world. It also has strong financial strength ratings. As on December 11, 2007, it was rated A, A+, A1 and AA- on financial strength by major rating agencies such as AM Best, Fitch ratings, Moody's and Standard & Poor's respectively.
Despite growth in premium income over the last two years, the group reported strong operating profit. During 2004-2006, the operating profit of Zurich Financial increased by 83.6%, while revenues increased by just 6.2%. This improved efficiency enabled the group to improve its operating profit margins from 6% in 2004 to 10.4% in 2006.
Zurich Financial's gross written premium (GWP) reached $46,465 million in 2006, from $49,236 million in 2004, a decline of 5.6%. In the same period, net earned premium declined to $40,509 million in 2006, a fall of 3.1% over 2004. Declining GWP indicate a drop in business which could affect the group's market share, especially in Europe.
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