AlphaValue/Baader Europe Upbeat on Zurich Insurance Forecasts After FY24 Results Beat

Trading View
2025.02.21 13:43

Zurich Insurance Group reported strong FY24 results, achieving a record profit of $5.8bn, exceeding consensus expectations of $5.6bn. AlphaValue/Baader Europe anticipates an upward revision of forecasts, maintaining a stock rating of 'add' with a target price of 654 francs. The company's BOPAT RoE reached 24.6%, surpassing its >20% target, and its Swiss Solvency Test ratio stood at 252%, well above the 160% target. Zurich confirmed its financial targets for 2025-2027.

Zurich Insurance Group reported "good 2024 figures," with the company delivering a record profit that marginally exceeded consensus expectations, AlphaValue/Baader Europe said Thursday.

As such, the research firm is currently reviewing its forecasts, with an upward revision expected. The group's stock is rated at add, with a target price of 654 francs.

"Net income attributable to shareholders of $5.8bn for 2024 was 3% above the consensus forecast of $5.6bn. BOPAT RoE of 24.6% for 2024 was at a record level and ahead of the target of >20%. Zurich therefore confirmed its new financial targets for 2025-2027, which it announced in November 2024," analysts said.

The insurer's solvency was also robust, with a Swiss Solvency Test ratio estimated at 252%, surpassing its 160% target.

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