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ubs maintains sell rating on zurich insurance with target price of 535 francs
UBS has maintained a "Sell" rating for Zurich Insurance Group, setting a target price of 535 Swiss francs. Analyst Will Hardcastle favors life insurers over non-life insurers in Europe, highlighting Prudential, Aviva, AXA, Swiss Re, and Beazley as preferred stocks in his recent sector report.
Zurich Insurance Group Revenue Breakdown Highlights Diverse Business Activities
Zurich Insurance Group Ltd, primarily an insurance provider, generates 75.2% of its revenue from general insurance and 19.6% from life insurance. Additional income sources include network and investment banking activities, reinsurance, and services from the Farmers Group, contributing 4.5% to overall revenue.
former UBS executive fined for failing to report bank accounts
Markus Rohrbasser, the former head of UBS North America, has been ordered to pay over $4.9 million to the IRS for failing to report his Swiss bank accounts from 2003 to 2013. A US District Court in Connecticut imposed penalties and interest after he concealed these accounts during his tenure at UBS and later at Zurich Insurance Group, where he was involved in significant acquisitions. Rohrbasser, who led UBS's investment banking expansion in the 1990s, is currently active on several boards of directors.
ex-finma directors transition to private sector raises concerns in switzerland
Urban Angehrn, the former director of FINMA, has joined Partners Group to enhance its insurance sector, following his departure amid the Credit Suisse crisis. This trend of ex-regulators moving to private firms raises concerns about the effectiveness of oversight in Switzerland's financial industry. Meanwhile, Patrick Raaflaub of Swiss Re will retire in 2025, with the company opting for an internal successor rather than another external hire from the regulatory sphere.
partners group appoints urban angehrn to board of directors
Partners Group has announced the nomination of Urban Angehrn, former CEO of Finma, to its Board of Directors, with the vote scheduled for the Annual General Meeting on May 21, 2025. Angehrn brings extensive experience from his tenure at Finma and Zurich Insurance Group, which will aid Partners Group in navigating the complexities of the private markets industry.
UBS has increased its price target for Zurich Insurance Group from 515 to 535 francs while maintaining a "Sell" rating. Despite the insurer's strong annual results and reduced fundamental concerns, the stock is considered highly valued, according to analyst Will Hardcastle.
ubs maintains sell rating on zurich insurance with target price of 515 francs
UBS has maintained a "Sell" rating for Zurich Insurance Group, setting a target price of 515 francs. Analyst Will Hardcastle noted the insurer's strong operating figures and the alleviation of concerns regarding forest fire liabilities, though this is countered by the absence of share buybacks.
global markets show mixed trends amid trade tensions and earnings reports
Kepler Cheuvreux upgraded Avolta to "Hold" as shares rose following a new 15-year contract at JFK Airport. The Swiss Market Index is slightly up, with Zurich Insurance leading gains, while Asian markets fell amid concerns over US tariffs and the Federal Reserve's cautious stance. In the US, stocks showed mixed results, with notable declines for Celanese and Bumble, while Analog Devices saw a significant rise after positive earnings.
BCV proposes Sandra Hauser for Board of Directors at AGM
BCV Group reported a net profit of CHF 441 million for 2024, with a stable operating income of CHF 1.16 billion and an increased dividend of CHF 4.40 per share. Total assets rose by 3% to CHF 60.6 billion, driven by an 8% growth in the mortgage business, while the common equity tier 1 ratio stands at a solid 16.8%. The Board of Directors will propose Sandra Hauser as a new member, succeeding Ingrid Deltenre, who is stepping down.
bank cantonale vaudoise reports stable revenues and proposes dividend increase
The Canton of Vaud will receive CHF 286 million for the 2024 financial year, including CHF 254 million in dividends. Despite a decline in profits, the Board of Directors will propose a dividend increase to CHF 4.40 per share at the upcoming Annual General Meeting. Ingrid Deltenre will resign from the Board, with Sandra Hauser proposed as her successor, bringing extensive experience in technology and finance. BCV reported stable revenues of CHF 1.16 billion, with net profit at CHF 441 million, marking the second-best results in its history.
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