...June 26, 2024 FRANKFURT (S&P Global Ratings) June 26, 2024--Zurich Insurance Co. Ltd.'s (Zurich Group's, ##/Stable/A-1+) proposed acquisition of American International Group's personal travel insurance business that was announced today will not affect our assessment of Zurich Group's capital and earnings. Based on Zurich Group's information, the group will pay a purchasing price of $600 million, plus a potential additional earn-out payment. We expect Zurich Group's Swiss Solvency Test (SST) ratio will decline by 4 percentage points to 228% after the completion of the transaction, compared with an SST ratio of 232% at the end of the first quarter of 2024. We believe Zurich Group's current capitalization and its organic capital generation can cover additional capital requirements to support the acquired business. The planned transaction does not affect our ratings on Zurich Group and related core subsidiaries. We understand that the planned transaction will enhance Zurich Group's product...
