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Zurich Insurance Group

LSE:0QP2
Snowflake Description

6 star dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0QP2
LSE
CHF48B
Market Cap
  1. Home
  2. GB
  3. Insurance
Company description

Zurich 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 last earnings update was 75 days ago. More info.


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0QP2 Share Price and Events
7 Day Returns
1.9%
LSE:0QP2
3.5%
GB Insurance
0.6%
GB Market
1 Year Returns
3.8%
LSE:0QP2
-5%
GB Insurance
1.1%
GB Market
0QP2 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Zurich Insurance Group (0QP2) 1.9% -0.7% 4.4% 3.8% 51.5% 29.4%
GB Insurance 3.5% 7.8% 9.9% -5% 14.9% 23.7%
GB Market 0.6% 3.6% 6.9% 1.1% 15.6% 6.2%
1 Year Return vs Industry and Market
  • 0QP2 outperformed the Insurance industry which returned -5% over the past year.
  • 0QP2 outperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 1.1% over the past year.
Price Volatility
0QP2
Industry
5yr Volatility vs Market

0QP2 Value

 Is Zurich Insurance Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Zurich Insurance Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Zurich Insurance Group.

LSE:0QP2 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 12 analysts.
= Stable Book Value * Return on Equity
= $217.80 * 14%
$30.46
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. $217.80
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for LSE:0QP2
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.724 (1 + (1- 18%) (28.1%))
0.927
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.93
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (0.927 * 5.96%)
6.75%

Discounted Cash Flow Calculation for LSE:0QP2 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Zurich Insurance Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0QP2 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (14% – 6.75%) * $217.80)
$15.75
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $15.75 / (6.75% - 1.23%)
$285.14
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $217.80 + $285.14
$502.95
LSE:0QP2 Discount to Share Price
Calculation Result
Exchange Rate USD/CHF
(Reporting currency to currency of SWX:ZURN)
1.015
Value per Share
(CHF)
= Value per Share in USD x Exchange Rate (USD/CHF)
= $502.95 x 1.015
CHF510.69
Non-primary Listing Adjustment Factor 1 share in LSE:0QP2 represents 0.9945x of SWX:ZURN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.9945x
Value per Share
(Listing Adjusted, CHF)
= Value per Share (CHF) x Listing Adjustment Factor
= CHF 510.69 x 0.9945
CHF507.88
Value per share (CHF) From above. CHF507.88
Current discount Discount to share price of CHF326.40
= -1 x (CHF326.40 - CHF507.88) / CHF507.88
35.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Zurich Insurance Group is available for.
Intrinsic value
36%
Share price is CHF326.4 vs Future cash flow value of CHF507.88
Current Discount Checks
For Zurich Insurance Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Zurich Insurance Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Zurich Insurance Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Zurich Insurance Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Zurich Insurance Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0QP2 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $25.10
SWX:ZURN Share Price ** SWX (2019-04-18) in CHF CHF328.2
SWX:ZURN Share Price converted to USD reporting currency Exchange rate (CHF/ USD) 0.985 $323.22
United Kingdom of Great Britain and Northern Ireland Insurance Industry PE Ratio Median Figure of 19 Publicly-Listed Insurance Companies 16.26x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Zurich Insurance Group.

LSE:0QP2 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SWX:ZURN Share Price ÷ EPS (both in USD)

= 323.22 ÷ 25.10

12.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zurich Insurance Group is good value based on earnings compared to the GB Insurance industry average.
  • Zurich Insurance Group is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does Zurich Insurance Group's expected growth come at a high price?
Raw Data
LSE:0QP2 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.88x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
5.4%per year
United Kingdom of Great Britain and Northern Ireland Insurance Industry PEG Ratio Median Figure of 16 Publicly-Listed Insurance Companies 1.54x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.48x

*Line of best fit is calculated by linear regression .

LSE:0QP2 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.88x ÷ 5.4%

2.37x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zurich Insurance Group is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Zurich Insurance Group's assets?
Raw Data
LSE:0QP2 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $205.00
SWX:ZURN Share Price * SWX (2019-04-18) in CHF CHF328.2
SWX:ZURN Share Price converted to USD reporting currency Exchange rate (CHF/ USD) 0.985 $323.22
United Kingdom of Great Britain and Northern Ireland Insurance Industry PB Ratio Median Figure of 24 Publicly-Listed Insurance Companies 2.12x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.51x
LSE:0QP2 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SWX:ZURN Share Price ÷ Book Value per Share (both in USD)

= 323.22 ÷ 205.00

1.58x

* Primary Listing of Zurich Insurance Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zurich Insurance Group is good value based on assets compared to the GB Insurance industry average.
X
Value checks
We assess Zurich Insurance Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check)
  5. Zurich Insurance Group has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

0QP2 Future Performance

 How is Zurich Insurance Group expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Zurich Insurance Group expected to grow at an attractive rate?
  • Zurich Insurance Group's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • Zurich Insurance Group's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • Zurich Insurance Group's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0QP2 Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0QP2 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 5.4%
LSE:0QP2 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 4%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Revenue Growth Rate Market Cap Weighted Average 18.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 11%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
LSE:0QP2 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0QP2 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 4,555
2022-12-31 55,289 4,553 1
2021-12-31 53,147 4,549 2
2020-12-31 52,631 4,400 4
2019-12-31 50,992 4,024 3
LSE:0QP2 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 47,205 4,388 3,716
2018-09-30 53,940 3,908 3,504
2018-06-30 60,675 3,428 3,292
2018-03-31 60,824 2,972
2017-12-31 64,045 5,207 3,004
2017-09-30 63,562 3,683 2,940
2017-06-30 67,249 2,199 3,101
2017-03-31 70,830 3,072
2016-12-31 67,335 1,473 3,211
2016-09-30 71,045 2,268 2,101
2016-06-30 60,305 2,889 1,396
2016-03-31 51,432 3,459 1,498

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Zurich Insurance Group's earnings are expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
  • Zurich Insurance Group's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
LSE:0QP2 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from Zurich Insurance Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QP2 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 32.83 32.83 32.83 1.00
2022-12-31 32.17 32.34 32.00 2.00
2021-12-31 30.51 33.89 28.86 9.00
2020-12-31 29.47 32.06 27.80 12.00
2019-12-31 27.04 28.66 24.95 12.00
LSE:0QP2 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 25.10
2018-09-30 23.56
2018-06-30 22.04
2018-03-31 19.82
2017-12-31 20.03
2017-09-30 19.62
2017-06-30 20.73
2017-03-31 20.58
2016-12-31 21.51
2016-09-30 14.08
2016-06-30 9.36
2016-03-31 10.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Zurich Insurance Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Zurich Insurance Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Zurich Insurance Group has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

0QP2 Past Performance

  How has Zurich Insurance Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Zurich Insurance Group's growth in the last year to its industry (Insurance).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Zurich Insurance Group's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Zurich Insurance Group's 1-year earnings growth exceeds its 5-year average (23.7% vs -5.9%)
  • Zurich Insurance Group's earnings growth has exceeded the GB Insurance industry average in the past year (23.7% vs 5.3%).
Earnings and Revenue History
Zurich Insurance Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Zurich Insurance Group Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QP2 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 47,205.00 3,716.00 7,761.00
2018-09-30 53,940.00 3,504.00 7,570.50
2018-06-30 60,675.00 3,292.00 7,380.00
2018-03-31 60,823.50 2,971.50 7,365.00
2017-12-31 64,045.00 3,004.00 7,212.00
2017-09-30 63,562.00 2,939.50 7,394.00
2017-06-30 67,249.00 3,101.00 7,286.00
2017-03-31 70,830.00 3,072.00 7,396.00
2016-12-31 67,335.00 3,211.00 7,573.00
2016-09-30 71,045.00 2,101.00 8,322.00
2016-06-30 60,305.00 1,396.00 8,429.00
2016-03-31 51,432.00 1,498.00 8,179.00
2015-12-31 60,558.00 1,842.00 8,653.00
2015-09-30 60,591.00 3,126.00 8,059.00
2015-06-30 69,146.00 3,885.00 8,380.00
2015-03-31 78,865.00 3,893.00 8,697.00
2014-12-31 72,830.00 3,949.00 8,690.00
2014-09-30 73,082.00 4,163.00 8,679.00
2014-06-30 72,795.00 4,300.00 8,592.00
2014-03-31 67,888.00 4,241.00 8,441.00
2013-12-31 72,046.00 4,028.00 8,528.00
2013-09-30 71,053.00 3,943.00 8,508.00
2013-06-30 71,658.00 3,511.00 8,616.00
2013-03-31 71,390.00 3,809.00 8,617.00
2012-12-31 70,446.00 3,887.00 8,602.00
2012-09-30 69,244.00 3,438.00 8,334.00
2012-06-30 57,820.00 4,006.00 8,159.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Zurich Insurance Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Zurich Insurance Group used its assets less efficiently than the GB Insurance industry average last year based on Return on Assets.
  • Zurich Insurance Group has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Zurich Insurance Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Zurich Insurance Group has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

0QP2 Health

 How is Zurich Insurance Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Zurich Insurance Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Zurich Insurance Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Zurich Insurance Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Zurich Insurance Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Zurich Insurance Group Company Filings, last reported 3 months ago.

LSE:0QP2 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 31,802.00 13,375.00 16,733.00
2018-09-30 31,802.00 13,375.00 16,733.00
2018-06-30 31,471.00 13,130.00 14,532.00
2018-03-31 31,471.00 13,130.00 14,532.00
2017-12-31 34,893.00 12,331.00 17,025.00
2017-09-30 34,893.00 12,331.00 17,025.00
2017-06-30 32,740.00 12,860.00 15,549.00
2017-03-31 31,246.00 11,309.00 9,480.00
2016-12-31 32,473.00 12,618.00 16,573.00
2016-09-30 34,447.00 12,972.00 16,761.00
2016-06-30 33,536.00 12,053.00 15,991.00
2016-03-31 32,702.00 13,142.00 19,976.00
2015-12-31 32,903.00 11,774.00 17,341.00
2015-09-30 33,457.00 12,535.00 18,017.00
2015-06-30 33,880.00 12,978.00 18,546.00
2015-03-31 37,363.00 12,765.00 21,081.00
2014-12-31 36,830.00 12,916.00 17,813.00
2014-09-30 36,190.00 13,088.00 19,013.00
2014-06-30 35,953.00 14,283.00 18,592.00
2014-03-31 36,897.00 14,387.00 19,853.00
2013-12-31 34,734.00 14,403.00 19,008.00
2013-09-30 34,368.00 14,334.00 8,209.00
2013-06-30 33,239.00 14,864.00 8,848.00
2013-03-31 37,199.00 14,898.00 8,477.00
2012-12-31 36,874.00 14,390.00 22,616.00
2012-09-30 36,473.00 14,086.00 8,495.00
2012-06-30 34,884.00 14,536.00 8,926.00
  • Zurich Insurance Group's level of debt (42.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (41.4% vs 42.1% today).
  • Debt is well covered by operating cash flow (32.8%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.8x coverage).
X
Financial health checks
We assess Zurich Insurance Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Zurich Insurance Group has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

0QP2 Dividends

 What is Zurich Insurance Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.49%
Current annual income from Zurich Insurance Group dividends. Estimated to be 6.56% next year.
If you bought CHF2,000 of Zurich Insurance Group shares you are expected to receive CHF110 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Zurich Insurance Group's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.02%).
  • Zurich Insurance Group's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.19%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
LSE:0QP2 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Insurance Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.2%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0QP2 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 24.05 1.00
2022-12-31 23.04 2.00
2021-12-31 22.21 12.00
2020-12-31 21.09 17.00
2019-12-31 20.21 17.00
LSE:0QP2 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-04-05 17.751 5.849
2017-02-09 16.749 5.822
2016-02-11 16.477 7.006
2015-05-07 16.495 6.411
2015-02-11 16.884 5.494
2014-02-13 16.689 6.135
2014-02-12 18.875 6.302
2013-02-15 17.359 6.774
2012-02-16 17.102 7.432
2011-03-03 18.195 7.719
2011-02-10 18.195 6.401
2010-02-04 13.772 6.574
2009-04-23 6.698 3.246

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Zurich Insurance Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Zurich Insurance Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Zurich Insurance Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Zurich Insurance Group has a total score of 6/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

0QP2 Management

 What is the CEO of Zurich Insurance Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Mario Greco
COMPENSATION $8,800,000
AGE 59
TENURE AS CEO 3.1 years
CEO Bio

Mr. Mario Greco has been the Group Chief Executive Officer and Member of the Executive Committee at Zurich Insurance Group AG since March 07, 2016. Mr. Greco served as the Group Chief Executive Officer of Assicurazioni Generali S.p.A. from August 1, 2012 to January 31, 2016 and served as its Managing Director & General Manager until January 31, 2016. Mr. Greco served as the Chief Executive Officer of Generali PPF Holding B.V and Fondazione Assicurazioni Generali. He served as the Chief Executive Officer of General Insurance for Zurich Insurance Group AG (Zurich Financial Services Ltd) from July 1, 2010 to June 2012. He served as Chief Executive -Unit and General Manager of Assicurazioni Internazionali di Previdenz of SanPaolo IMI S.p.A. since April 5, 2005. In 2004, he joined Allianz AG Vorstand. He served as the Managing Director of Eurizon Financial Group of SanPaolo IMI S.p.A. since 2005 and served as its head of Saving and Pensions. He started his professional career in management consulting, working with McKinsey & Company from 1986 to 1994 and as a Partner Leader in the insurance segment from 1992 to 1994. In 1995, he joined Ras (Allianz Group) (Riunione Adriatica) as Head of Claims Division. Since 1996 he served as General Manager in charge of the Insurance business and since 1998, he served as its Managing Director. He joined Zurich in October 2007. Mr. Greco served as Chief Executive Officer and General Manager of Riunione Adriatica di Sicurta SpA (RAS) from 2000 to 2005. He served as Chief Executive Officer of General Insurance of Zurich Insurance Group AG from July 1, 2010 to June 4, 2012 and served as its Member of Group Management Board until June 4, 2012 and Chief Executive Officer of Global Life for Zurich Region until July 1, 2010. He served as the Chief Executive Officer of Eurizon Capital S.A. He served as Head of Eurizon Financial Group at Intesa Sanpaolo S.p.A. since January 2007. He served as the Chief Executive Officer of Eurizon Financial Group S.p.A. He served as the Chief Executive Officer of RAS & Milan since 2000 and a Member of Management Board at Allianz SE since May 1, 2005. He serves as the Chairman of Generali (Schweiz) Holding AG. Mr. Greco served as the Chairman of the Supervisory Board at Zurich Versicherung Aktiengesellschaft. He serves as the Chairman at Generali Italia S.p.A. He serves as Vice-Chairman of the Supervisory Board at Zurich Versicherung Aktiengesellschaft. He served as Vice-Chairman of BSI SA since September 25, 2012 until October 2013. He serves as a Director of Generali PPF Holding B.V. He serves as a Member of Advisory Board at BlueGem Capital Partners LLP. He served as a Director at Pirelli & C. S.p.A. until March 5, 2013 and previously also served until April 28, 2005. Mr. Greco served as an Independent Director of Indesit Company S.p.A. He served as an Executive Director at Assicurazioni Generali S.p.A. from August 1, 2012 to January 31, 2016. He served as a Director of UniCredit S.p.A. until May 2005; FASTWEB S.p.A.; IFIL - Finanziaria di Partecipazioni SpA; Mediobanca Banca di Credito Finanziario S.p.A. (alternate name, Mediobanca S.p.A.) and Banca Fideuram S.p.A. from April 27, 2005 to June 2007. He served as a Director of Gruppo Editoriale L' Espresso SpA since April 26, 2006. He served as an Independent director of Saras S.p.A from March 1, 2006 to March 5, 2013. He serves as Director of Bocconi University. Mr. Greco graduated in Economics at the University of Rome in 1983 and obtained a Master degree in International Economics and Monetary Theory at Rochester University, N.Y., USA, in 1986.

CEO Compensation
  • Mario's compensation has been consistent with company performance over the past year.
  • Mario's remuneration is higher than average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the Zurich Insurance Group management team in years:

2.7
Average Tenure
52.5
Average Age
  • The tenure for the Zurich Insurance Group management team is about average.
Management Team

Mario Greco

TITLE
Group CEO & Member of the Executive Committee
COMPENSATION
$9M
AGE
59
TENURE
3.1 yrs

George Quinn

TITLE
Group CFO & Member of the Executive Committee
AGE
52
TENURE
4.9 yrs

Claudia Dill

TITLE
CEO of Latin America & Member of the Executive Committee
AGE
52
TENURE
2.6 yrs

Kristof Terryn

TITLE
Group COO & Member of Executive Committee
AGE
51
TENURE
2.8 yrs

Urban Angehrn

TITLE
Group Chief Investment Officer & Member of Executive Committee
AGE
53
TENURE
3.8 yrs

Jeff Dailey

TITLE
Member of the Executive Committee
AGE
61
TENURE
7.3 yrs

Jack Howell

TITLE
CEO of Asia Pacific & Member of the Executive Committee
AGE
48
TENURE
2.5 yrs

James Andrew Shea

TITLE
CEO of Commercial Insurance & Member of the Executive Committee
AGE
53
TENURE
2.5 yrs

McKie Martin

TITLE
Group CRO & Member of the Executive Committee
AGE
44
TENURE
1.5 yrs

Kathleen Savio

TITLE
CEO of North America & Member of the Executive Committee
AGE
53
TENURE
1.5 yrs
Board of Directors Tenure

Average tenure and age of the Zurich Insurance Group board of directors in years:

4
Average Tenure
64
Average Age
  • The tenure for the Zurich Insurance Group board of directors is about average.
Board of Directors

Michel Liès

TITLE
Chairman of the Board
COMPENSATION
$1M
AGE
64
TENURE
1 yrs

Christoph Franz

TITLE
Vice Chairman
COMPENSATION
$410K
AGE
58
TENURE
1 yrs

Fritz Gerber

TITLE
Honorary Chairman
AGE
89

Wilson Toneto

TITLE
Chairman of Brazilian Unit
TENURE
8.3 yrs

Alison Carnwath

TITLE
Director
COMPENSATION
$380K
AGE
65
TENURE
7.1 yrs

Jeff Hayman

TITLE
Director
COMPENSATION
$345K
AGE
58
TENURE
3.1 yrs

Monica Mächler

TITLE
Director
COMPENSATION
$300K
AGE
62
TENURE
6 yrs

Kishore Mahbubani

TITLE
Director
COMPENSATION
$300K
AGE
70
TENURE
4 yrs

Joan Lordi Amble

TITLE
Director
COMPENSATION
$300K
AGE
65
TENURE
4 yrs

Cathy Bessant

TITLE
Director
COMPENSATION
$300K
AGE
58
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CHF) Value (CHF)
X
Management checks
We assess Zurich Insurance Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Zurich Insurance Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

0QP2 News

Simply Wall St News

0QP2 Company Info

Description

Zurich 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, and Non-Core Businesses segments. It offers car, home, travel, general liability, life and critical illness, 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, automotive, cyber risk, and financial institution insurance products. In addition, it offers employee benefit insurance products; and reinsurance services, as well as provides non-claims administrative, management, and other services to the farmers’ exchanges. It serves individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. Zurich Insurance Group AG was founded in 1872 and is headquartered in Zurich, Switzerland.

Details
Name: Zurich Insurance Group AG
0QP2
Exchange: LSE
Founded: 1872
CHF48,332,568,279
147,265,595
Website: http://www.zurich.com
Address: Zurich Insurance Group AG
Austrasse 46,
Zurich,
Zurich, 8045,
Switzerland
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SWX ZURN Registered Shares SIX Swiss Exchange CH CHF 17. Oct 2000
OTCPK ZFSV.F Registered Shares Pink Sheets LLC US USD 17. Oct 2000
DB ZFIN Registered Shares Deutsche Boerse AG DE EUR 17. Oct 2000
XTRA ZFIN Registered Shares XETRA Trading Platform DE EUR 17. Oct 2000
LSE 0QP2 Registered Shares London Stock Exchange GB CHF 17. Oct 2000
BATS-CHIXE ZURNZ Registered Shares BATS 'Chi-X Europe' GB CHF 17. Oct 2000
OTCPK ZURV.Y SPON ADR 10 REP 1 ORD SH Pink Sheets LLC US USD 18. Oct 2000
DB ZFI1 SPON ADR 10 REP 1 ORD SH Deutsche Boerse AG DE EUR 18. Oct 2000
Number of employees
Current staff
Staff numbers
52,267
Zurich Insurance Group employees.
Industry
Multi-line Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 20:55
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/20
Last earnings filing: 2019/02/06
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.