Zurich: better-than-expected results, solid forecasts
The Swiss insurer reported record operating income of $7.4 billion last year, up 21% year-on-year, against analysts' expectations of $7.1 billion.
The Group plans to offer its shareholders a dividend up 8% to 26 Swiss francs per share, to be accompanied by a share buyback program of up to 1.1 billion Swiss francs.
For 2024, Zurich now expects average annual growth in earnings per share (EPS) of more than 10% over the period 2023-2025, a target higher than consensus estimates and the 8% forecast communicated at its 2022 investor day.
With a gain of almost 3%, Zurich was the biggest riser on the Swiss stock exchange's SMI index on Thursday in the wake of this publication.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Go to the original article.
Contact us to request a correction