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UBS has downgraded Zurich Insurance Group from "Neutral" to "Sell," reducing its price target from 532 to 515 Swiss francs. Analyst Will Hardcastle noted that the company's valuation is high compared to its historical performance and the European insurance sector, indicating potential correction risks.
UBS has shifted its stance on Zurich Insurance Group Ltd from neutral to short. The company generates its revenues primarily from general insurance (75.2%), followed by life insurance (19.6%), with a small portion from other activities (0.7%) and services from the Farmers Group (4.5%).
Axa Switzerland has appointed Patric Deflorin as the new Head of Distribution, effective April 1, 2025. He joins from competitor Mobiliar, where he held various leadership roles over 12 years, including Head of Market Management. Deflorin succeeds Michele Bernasconi, who will transition to a Senior Advisor role.
Analysts have made several notable adjustments to their recommendations and price targets for various companies. Allianz sees a downgrade from Jefferies, while Euronext and Fnac Darty receive upgrades. Kering remains underweight, and UBS Group's rating shifts from Outperform to Neutral. Other companies like Lonza and Soitec also see target price increases.
The representation of women in top corporate finance roles in Switzerland is on the rise, with female CFOs now making up 13% of the positions among listed companies, doubling from the previous year. This figure is approaching the overall female management average of 17%. However, women CEOs remain scarce, with only eight currently in Switzerland, including notable figures like Magdalena Martullo-Blocher and Suzanne Thoma.
UBS Group AG has a consensus rating of "Moderate Buy" despite a recent "Hold" rating from analysts. The company reported earnings of $0.43 per share, exceeding expectations, with revenue of $19.31 billion for the quarter. Institutional investors have shown mixed activity, with Zurich Insurance reducing its stake by 16.5%, while others like Kovitz Investment Group increased their holdings significantly.
Zurich Insurance Group is enhancing its global travel insurance position by acquiring AIG's travel insurance business for private clients, including Travel Guard, for $600 million. This merger with Cover-More Group will create "Zurich Cover-More," headquartered in the US, serving over 20 million customers worldwide. The acquisition has reduced Zurich's Swiss Solvency Test ratio by five percentage points, with all regulatory approvals secured.
A new financial center initiative mandates banks and insurers, including UBS and Zurich Insurance, to cease investments in fossil fuels. UBS invested approximately $9 billion in such projects in 2023, while Zurich has adopted new climate guidelines for oil and gas investments.
UBS has raised its target price for Zurich Insurance to CHF 532 from CHF 475, maintaining a Neutral rating. The Swiss insurer's ambitious three-year plan includes over 9% average annual growth in core EPS and a return on equity of at least 23%, alongside over $19 billion in cash distributions to shareholders. However, UBS notes that share buybacks will be one-off events, limiting upside potential.
UBS has raised its target price for Zurich Insurance, as reported by Cercle Finance and published by BOURSORAMA. The analysis is provided for informational purposes only, with BOURSORAMA disclaiming any responsibility for its content and ensuring no conflicts of interest affect its objectivity.

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