S&P raises Zurich Insurance

S&P said it raised its long-term issuer credit ratings on Zurich Insurance Co. Ltd.'s core operating entities to AA from AA-.

“We raised the ratings because, in our view, the ZIC's financial performance has sustainably improved and is likely to remain robust. We believe that very strong earnings, effective risk management and a globally diversified business profile should enable ZIC to continue generating good earnings and maintain its risk-adjusted capital adequacy position at a level that supports a AA rating.

The outlook is stable.

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