Zurich Insurance raised to Aa2 by Moody's on strong, stable earnings [Seeking Alpha]
ZURICH INS GROUP S/ADR (ZURVY)
NASDAQ:AMEX Investor Relations:
zurich.com/en/investor-relations
Company Research
Source: Seeking Alpha
Group ( OTCQX:ZURVY OTCQX:ZFSVF ), by one level to Aa2 from Aa3, the firm said on Wednesday. Aa2 is Moody's third-highest rating in its scale. The ratings company also upgraded Zurich Group's long-term debt ratings by one notch. The outlook was revised to stable from positive for all the issuers. The upgrade of the insurance entity "reflects Zurich Group's ( OTCQX:ZURVY ) track record of strong and stable earnings along with its conservative risk and capital management, which support the group's balance sheet resilience and enhance its financial flexibility," Moody's said. "Zurich Group's earnings generation capabilities are supported by its strong franchise, notably in global commercial P&C lines, and its wide geographic and business diversification." The company's unique relationship with Farmers Exchanges also differentiates the company from its peers. "The low-risk Farmers management fee remains a steady and meaningful contributor to the group's earnings," the ratings compan
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