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Fitch Ratings has upgraded Zurich Insurance's financial strength rating from "AA-" to "AA". The long-term issuer credit rating is also revised upward to "AA-" from "A+". The outlook remains stable.
The rating agency justifies its decision by the strength of the group's capitalization, the strong recovery of its profits and its favorable business profile.
In H1 2021, the company has achieved a 58% increase of its operating profit to 2.7 billion USD. The combined ratio amounts to 93.9% and the return on equity (ROE) comes to 11.9%.
