We believe Zurich Insurance Co. Ltd. (Zurich) has improved the diversification of its earnings, supporting capital adequacy at least at the 'AA' level. As a result, we are increasingly confident in the strength and resilience of Zurich's profitability and business risk profile, relative to peers, and the sustainability of the group's very strong capital adequacy. We are therefore revising our outlook on Zurich to positive from stable and affirming our 'AA-' ratings on Zurich and its related core subsidiaries. At the same time, we are assigning our 'AA-' ratings to leading crop insurer Rural Community Insurance Services (RCIS), based on its inclusion within Zurich's North American intercompany pooling arrangement, effective Jan. 1, 2018. On Oct. 29, 2019, S&P Global Ratings
