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Zurich Insurance: Restructuring on course

May 15, 2014

Zurich Insurance (Buy*) increased Q1 net income by 20% to USD 1.27bn also thanks to a higher net capital gain. The company exceeded market expectations clearly with its most important key figures (consensus net income: USD 1.06bn). In addition, there are positive signs at Farmers in the U.S. All in all, Zurich is on a good track with its restructuring. Therefore, we confirm our rating.

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