Zurich Insurance Group Ltd/FI American Depositary Receipt…

Summary

Zurich Insurance Group AG is a holding company, which engages in the provision of insurance products and related services. It operates through the following segments: Property and Casualty Regions, Life Regions, Farmers, Group Functions and Operations, and Non-Core Businesses. The Property and Casualty Regions segment provides motor, home, and commercial products and services for individuals, as well as small and large businesses on both a local and global basis. The Life Regions segment includes comprehensive range of life and health insurance products on both an individual and a group basis including annuities, endowment and term insurance, unit-linked and investment-oriented products, as well as full private health, supplemental health, and long-term care insurance. The Farmers segment focuses on non-claims administrative and management services to the Farmers Exchanges, which are owned by policyholders. The Group Functions and Operations segment is involved in group’s holding and financing and headquarters activities. The Non-Core Businesses segment offers insurance and reinsurance businesses. The company was founded in 1872 and is headquartered in Zurich, Switzerland.

Website

www.zurich.com

Location

Zurich, V8, CH

Phone41 44 625 25 25

Employees59,573

CEOMario Greco

Sector

Financials

Industry

Insurance

IPO DateJun 5, 2003

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Company overview

Business model, segments, and competition.

Peer comparison

Metrics vs closest competitors.

Guidance & outlook

Forward guidance and assumptions.

Bull vs bear case

Upside drivers and key risks.

Valuation snapshot

Multiples vs history and peers.

Competitive moat

Defensibility and market position.

Management track record

Leadership and capital allocation history.

Latest Documents

Mentions in Filings

… Stock Exchange on behalf of Manikay Global Opportunities July 2025 £ 2.7 billion (100% stake) Financial advisor to NatWest on the acquisition of Evelyn Partners February 2026 US$ 10.9 billion Financial Advisor to Zurich Insurance Group on the 100% recommended all-cash offer for Beazley Plc March 2026 Undisclosed Sole Financial Advisor to Schroders plc on the 99% stake sale of Schroders Investment Management Indonesia to Manulife September 2025 S …
Banco Santander, S.A.Zurich Insurance Group Ltd/FI American Depositary Receipt·F-4 - Registration statement (business combination, foreign issuer)·Q3 26·21 Sep
… ingsRock since 2020. Dr. Ackermann is a Swiss banker and former executive with a distinguished career spanning over four decades in global finance. Most recently, he served as Chairman of the Board of Directors at Zurich Insurance Group from 2012 to 2013 180 Table of Contents and held prominent board roles including Vice-Chairman of Siemens AG, Director at Royal Dutch Shell plc, and Vice-Chairman of the Foundation Board of the World Economic F …
NorthStar Earth & Space, Inc.Zurich Insurance Group Ltd/FI American Depositary Receipt·POS AM - REGISTRATION STATEMENT·Q3 26·24 Aug
#UBS Group AG 1,175,053 55,403,749 Zurich Insurance Group AG 241,843 172,419,722 TOTAL SWITZERLAND 1,395,237,262 UNITED KINGDOM — (12.3%) Anglo American PLC 561,496 26,259,086 Associated British Foods PLC 325,033 8,496,808 Barclays PLC 3,635,128 24,253,142 Barclays PLC, Sponsored ADR 2,063,109 55,188,166 Barratt Redrow PLC, Registered 2,032,381 10,826,648 BP PLC 5,034,083 32,039,407 BP PLC, Spons …
Dimensional ETF TrustZurich Insurance Group Ltd/FI American Depositary Receipt·NPORT-EX - NT NPORT-P - Notification of late filing (portfolio holdings)·Q1 26·13 Aug
… to any exchange, or set forth in any registration statement, application, or report to shareholders or otherwise made available to the public. Item C.1. Identification of investment. a. Name of issuer (if any). Zurich Insurance Group AG b. LEI (if any) of issuer. In the case of a holding in a fund that is a series of a series trust, report the LEI of the series. 529900QVNRBND50TXP03 c. Title of the issue or description of the investment. ZURIC …
Dimensional ETF TrustZurich Insurance Group Ltd/FI American Depositary Receipt·NPORT-P - NT NPORT-P - Notification of late filing (portfolio holdings)·Q1 26·13 Aug
… ingsRock since 2020. Dr. Ackermann is a Swiss banker and former executive with a distinguished career spanning over four decades in global finance. Most recently, he served as Chairman of the Board of Directors at Zurich Insurance Group from 2012 to 2013 180 Table of Contents and held prominent board roles including Vice-Chairman of Siemens AG, Director at Royal Dutch Shell plc, and Vice-Chairman of the Foundation Board of the World Economic F …
Viking Acquisition Corp IZurich Insurance Group Ltd/FI American Depositary Receipt·424B3 - PROSPECTUS·Q3 26·12 Aug
… ingsRock since 2020. Dr. Ackermann is a Swiss banker and former executive with a distinguished career spanning over four decades in global finance. Most recently, he served as Chairman of the Board of Directors at Zurich Insurance Group from 2012 to 2013 180 Table of Contents and held prominent board roles including Vice-Chairman of Siemens AG, Director at Royal Dutch Shell plc, and Vice-Chairman of the Foundation Board of the World Economic F …
Viking Acquisition Corp IZurich Insurance Group Ltd/FI American Depositary Receipt·F-4/A - REGISTRATION STATEMENT·Q3 26·10 Aug

Key Stats

Trading

Px/Chg 1D$34.46 / +1.80%

Prev Close$37.38

% of 52Wk H95.61%

Avg Volume181.33K

Beta0.28

Mkt Cap102.95B

FD Mkt Cap110.56B

Float

Shrs Out/Float2.99B / 2.84B

Short Float0.00%

Days to Cover1.00

Stock Repurchased$452.30M

Current Valuation

EV116.17B

EV/EBITDA-3.56

EV/Sales1.67

P/B3.61

P/S1.48

FCF Yield14.37%

ROE23.96%

ROA1.50%

Current Ratio0.00

Dividend

Cash$1.92

Yield5.43%

Yield (TTM)5.43%

Estimates

P/E14.26

Est P/EN/A

Est EPSN/A

Est PEGN/A

Valuation

Metric	5Yr Avg	Mar '22	Mar '23	Mar '24	Mar '25	Oct '26
PRICE-BASED RATIOS
Price / Earnings	19.09	14.19	17.83	18.24	17.55	27.61
Price / Sales	1.38	1.06	1.58	1.02	1.19	2.03
Price / Book Value	3.10	1.95	2.75	3.19	4.01	3.61
Price / Free Cash Flow	15.34	28.50	15.68	11.46	14.11	6.96
ENTERPRISE VALUE METRICS
Enterprise Value	95,959.2	83,415.0	80,078.6	88,974.2	111,157.0	116,171.3
Enterprise Value / Sales	1.54	1.20	1.79	1.14	1.29	2.29
Enterprise Value / EBITDA	12.75	9.97	12.18	11.46	11.32	18.79
Enterprise Value / EBIT	14.08	11.10	13.76	12.87	12.48	20.19

Financials

Full Financials

Millions USD	5Yr CAGR (%)	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
INCOME STATEMENT
Revenue	6.1%	69,539.0	44,763.0	78,098.0	86,046.0	88,169.2
Gross Income	10%	60,326.0	33,775.0	75,706.0	83,662.0	88,169.2
EBITDA	8%	8,364.0	6,574.0	7,766.0	9,816.0	11,390.0
EBIT	8.9%	7,515.0	5,818.0	6,914.0	8,905.0	10,553.8
Net Income	7.1%	5,202.0	3,964.0	4,351.0	5,814.0	6,832.8
EPS (Diluted)	28.5%	0.87	0.67	0.75	2.01	2.37
BALANCE SHEET
Cash & ST Inv	-54.2%	160,608.0	114,428.0	100,245.0	112,646.0	7,086.0
Total Assets	1.1%	435,826.0	377,782.0	361,382.0	358,005.0	455,117.8
Total Liabilities	1.7%	396,656.0	349,869.0	335,103.0	331,067.0	424,951.7
Total Shareholder Equity	-6.9%	37,881.0	25,683.0	24,860.0	25,472.0	28,515.0
CASH FLOW
Net Operating Cash Flow	63.8%	3,167.0	5,079.0	7,345.0	7,603.0	22,771.0
Cap Ex	-4.3%	-576.0	-572.0	-418.0	-370.0	-482.5
Free Cash Flow	71.3%	2,591.0	4,507.0	6,927.0	7,233.0	22,288.6

Enterprise Value Bridge

Millions USD		23 Oct '26
Price (As of 23 Oct '26)		37.40
Basic Shares		2,987.39
Market Cap		111,728.2
Diluted Shares		2,880.35
Fully Diluted Shares Outstanding		2,880.35
Fully Diluted Market Cap		107,725.2
+Consolidated Debt		18,661.0
−In-the-Money Convertible Debt		—
+Capital Leases		1,448.0
+Operating Leases		—
−Cash & Equivalents		-7,086.0
−Short-term Investments		-
+Total Preferred		-
−In-the-Money Convertible Preferred		—
−Investments in Unconsolidated Subs		—
+Non-Controlling Interest		1,651.0
+Pension Liabilities		—
Enterprise Value		124,954.2

Zurich Insurance Group Ltd/FI American Depositary Receipt(ZURVY US)

Zurich Insurance Group Ltd/FI American Depositary Receipt(ZURVY US)

Financials & Metrics