Zurich Insurance Group (OTCMKTS:ZURVY) Receives a Downgrade
In an interesting research report sent to clients and investors on 16 December, Jefferies has decided to cut rating on Zurich Insurance Group (OTCMKTS:ZURVY) shares to a Hold. ZURVY’s prior rating was a Buy.
Approximately 19,781 shares of stock traded hands. Zurich Insurance Group Ltd (ADR) (OTCMKTS:ZURVY) has declined 22.06% since May 13, 2015 and is downtrending. It has underperformed by 19.44% the S&P500.
Zurich Insurance Group Limited is an insurance company. The company has a market cap of $38.41 billion. The Company’s divisions include: General Insurance, which provides a variety of motor, home and commercial services and products for individuals, as well as small and large businesses; Global Life, which pursues a strategy with propositions in unit-linked and protection products, as well as fee solutions managed through bank distribution, corporate life, and pensions and in-force management to develop positions in its target markets, and Farmers, which provides, through Farmers Group, Inc. (FGI) and its subsidiaries, non-claims related, administrative and management services to the Farmers Exchanges as attorney-in-fact. It has 12.13 P/E ratio. FGI receives fee income for the provision of services to the Farmers Exchanges, which are owned by the policyholders and managed by Farmers Group, Inc., a wholly owned subsidiary of the Company.
According to Zacks Investment Research, “Zurich Insurance Group Limited is a multi-line insurance provider. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies and multinational corporations. The Company operates in three segments: General Insurance, Global Life and Farmers. Its General Insurance segment provides property and casualty products and services for individual and commercial customers. Its Global Life segment offers life insurance, investments, savings and pensions solutions to international and expatriate investors, corporate customers and private banks. Its Farmers segment includes Farmers Re and Farmers Management Services, through which it manages the Farmers Exchanges, as well as Foremost, Bristol West and 21st Century products in the United States. Zurich Insurance Group Limited, formerly known as Zurich Financial Services Limited, is based in Zurich, Switzerland.”