|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||47.07 - 47.39|
|52 Week Range||40.59 - 49.95|
|Beta (5Y Monthly)||0.64|
|PE Ratio (TTM)||13.58|
|Forward Dividend & Yield||2.34 (5.21%)|
|Ex-Dividend Date||Apr 08, 2022|
|1y Target Est||55.12|
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Zurich, one of Europe’s largest insurance companies, has enjoyed its best start to a year since 2008 as commercial insurance prices continued to outpace cost inflation, while an imminent disposal paved the way for a SFr1.8bn ($1.9bn) share buyback. Chief executive Mario Greco told the Financial Times that Zurich would have excess capital even after the “special” return, which was linked to the forthcoming sale of a portfolio of German life policies, and that the preference was to invest any surplus funds in the business or to fund deals. Zurich’s key measure of operating profit rose by a quarter to $3.4bn in the first half, exceeding analysts’ consensus expectations and representing the best interim performance since 2008.
European shares opened higher on Thursday to extend gains from the previous session after data showed signs of U.S. inflation cooling, while Dutch insurer Aegon climbed after raising its full-year forecast. The pan-European STOXX 600 index rose 0.4%, after clocking its best session in nearly two weeks on Wednesday on bets that the inflation reading will encourage the Federal Reserve to become less aggressive on interest rates hikes. Aegon jumped 7.5%, to the top of the STOXX 600, as it raised its forecasts for full-year operating capital generation and 2021-2023 free cash flow.
By Scott Kanowsky