Zurich Insurance Group continues to rank among the most diversified global multiline insurers, with very strong capitalization despite weaker-than-expected profitability in property/casualty insurance in 2015. At the same time, we believe the group is able to post solid earnings thanks to its balanced geographic mix and business line diversification, and it has further improved its enterprise risk management through better internal economic capital modelling. We are consequently affirming our 'AA-' long-term ratings on Zurich Insurance Co. Ltd. and its core entities. The stable outlook reflects our view that the group's diversification will allow it to post solid earnings and that the group's risk tolerance policies will continue to favor maintaining comfortable capital buffers relative to its ratings. On Oct. 27,
