Research Update: Zurich Insurance Co. Ltd. Affirmed At 'AA-' On Acquisition Of MetLife's U.S. Non-Life Operations; Outlook Positive - S&P Global Ratings’ Credit Research

Research Update: Zurich Insurance Co. Ltd. Affirmed At 'AA-' On Acquisition Of MetLife's U.S. Non-Life Operations; Outlook Positive

Research Update: Zurich Insurance Co. Ltd. Affirmed At 'AA-' On Acquisition Of MetLife's U.S. Non-Life Operations; Outlook Positive - S&P Global Ratings’ Credit Research
Research Update: Zurich Insurance Co. Ltd. Affirmed At 'AA-' On Acquisition Of MetLife's U.S. Non-Life Operations; Outlook Positive
Published Dec 14, 2020
7 pages (2454 words) — Published Dec 14, 2020
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Dec. 11, 2020, Zurich Insurance Co. Ltd. (ZIC) announced an agreement to buy 100% of MetLife Inc.'s (A-/Stable/A-2) U.S. non-life operations. We think that ZIC's financial risk profile remains very strong based on the proposed financing of the transaction, with a combination of own funds and newly issued hybrid debt. Therefore, we are affirming the 'AA-' ratings on ZIC and its related core and highly strategic subsidiaries. The positive outlook on ZIC and its core subsidiaries reflects that we could raise the ratings within the next 12-24 months. On Dec. 14, 2020, S&P Global Ratings affirmed our 'AA-' long-term financial strength and issuer credit ratings on Zurich Insurance Co. Ltd. (ZIC) and its core subsidiaries. The outlook remains positive.

  
Brief Excerpt:

...Research Update: Zurich Insurance Co. Ltd. Affirmed At '##-' On Acquisition Of MetLife's U.S. Non-Life Operations; Outlook Positive...

  
Report Type:

Research Update

Ticker
1010Q@SW
Issuer
Zurich Insurance Co. Ltd.
GICS
Multi-line Insurance (40301030)
Sector
Global Issuers, Public Finance, Structured Finance
Country
Switzerland
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Zurich Insurance Co. Ltd. Affirmed At 'AA-' On Acquisition Of MetLife's U.S. Non-Life Operations; Outlook Positive" Dec 14, 2020. Alacra Store. May 02, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Zurich-Insurance-Co-Ltd-Affirmed-At-AA-On-Acquisition-Of-MetLife-s-U-S-Non-Life-Operations-Outlook-Positive-2570448>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Zurich Insurance Co. Ltd. Affirmed At 'AA-' On Acquisition Of MetLife's U.S. Non-Life Operations; Outlook Positive Dec 14, 2020. New York, NY: Alacra Store. Retrieved May 02, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Zurich-Insurance-Co-Ltd-Affirmed-At-AA-On-Acquisition-Of-MetLife-s-U-S-Non-Life-Operations-Outlook-Positive-2570448>
  
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