|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||407.96 - 408.00|
|52 Week Range||328.13 - 450.75|
|Beta (5Y Monthly)||0.63|
|PE Ratio (TTM)||15.96|
|Forward Dividend & Yield||21.68 (5.47%)|
|Ex-Dividend Date||Apr. 09, 2021|
|1y Target Est||N/A|
Zurich Insurance Group AG is expecting a "strong rebound" in profits in 2021 and may sell books of life business closed to new customers, the head of Europe's fifth-largest insurer said on Wednesday. Insurers across the globe were hit by claims from COVID-19 last year, but the impact of the pandemic on earnings was waning, Mario Greco, chief executive of Zurich, said in an interview at the Reuters Future of Insurance USA conference. Greco said the insurer was "constantly looking" to sell books of European life insurance business closed to new customers, after several such transactions in recent years.
LONDON/ZURICH (Reuters) -Zurich Insurance does not expect to have a major exposure to the failure of supply chain financing firm Greensill Capital, the insurer's chief financial officer said on Wednesday after it reported solid first-quarter earnings. Greensill Capital lent money to firms by buying their invoices at a discount but it collapsed in March 2021 after one of its main insurers declined to renew its cover. Among the investors burnt in the widespread fallout were clients of Swiss banking giant Credit Suisse, steel magnate Sanjeev Gupta's GFG Alliance and some 26 German towns.
Zurich Insurance Group will drop out of Russia's Nord Stream 2 project in the face of looming U.S. sanctions against European companies that support construction of the $11 billion gas pipeline, two sources familiar with the situation said. The U.S. State Department this month told companies which it suspects are helping to build the pipeline that they face a risk of sanctions as the outgoing Trump administration prepares a final round of punitive measures against the project, Reuters reported this week. The Swiss insurer declined to comment on Saturday on specific customers, but said: "Zurich has a comprehensive compliance framework in place and is committed to fully comply with any applicable sanctions regulations."