A.M. Best Co. indicated that its ratings on Zurich Financial Services and its rated subsidiaries remain unchanged following the announcement of post-tax earnings of $4.5 billion at year-end 2006 and the proposal of a CHF 1.25 billion ($1.0 billion) share buyback, as well as a gross dividend of CHF 11.00 per share ($8.80) (amounting to $1.3 billion in total).
Best said it “believes that ZFS’ consolidated risk-adjusted capitalization remains supportive of the current ratings despite the proposed share buyback and the dividend payment.
“Prospectively, A.M. Best expects ZFS to maintain the current level of risk-adjusted capitalization.”
Was this article valuable?
Here are more articles you may enjoy.
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
Florida Insurance Costs 14.5% Lower Than Without Reforms, Report Finds 
Judge Awards Applied Systems Preliminary Injunction Against Comulate 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
