Zurich Insurance Group AG (ZURN) Fair Value & Analysis
Financial Services · CH · Market cap CHF 93.3B · ISIN CH0011075394
What is Zurich Insurance Group AG really worth?
A solid business, but trading 80% above our fair value of CHF 335.07.
Strengths
Risks
Fair value as of: Sep 2, 2026
From 6 valuation models · updated 2 days ago
Fair value updated Sep 2, 2026, revised from CHF 332.68 to CHF 335.07 (+0.7%) since Aug 27, 2026. Share price −0.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (CHF 418.83). The favourable scenario is already priced in.
- Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 2, 2026.
How to read this chart
60‑month range CHF 271.90 – CHF 624.40 · fair‑value band CHF 251.30 – CHF 418.83 · the CHF 601.60 price screens above the CHF 335.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 2, 2026.
Analysis
Zurich Insurance Group AG (ZURN) currently trades at CHF 601.60, while our model-based Fair Value estimate is CHF 335.07, implying the stock looks roughly 79.5% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Financial Services sector. Bull case: the Dividend Discount group reads highest at a median of CHF 462.77 per share, and 2 of the 6 models we run sit above the CHF 601.60 price. Bear case: the Asset-Based group reads lowest at CHF 135.31, and 4 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Zurich Insurance Group AG generated revenue of CHF 73.1B at a net margin of 9.3%. Revenue grew 9.5% year over year. It earns a return on equity of 25.2%. Net debt stands at CHF 11.6B. Fundamentals as of Sep 2, 2026
Our scenario range runs from CHF 251.30 (bear case) to CHF 418.83 (bull case); at CHF 601.60, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 22% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −11% fair-value upside, at −44%, ZURN screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly CHF 25.18 per share, which is 7.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Dividend Discount (CHF 462.77) versus Asset-Based (CHF 135.31). Highest evidence: Gordon GGM (66).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 2, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 70
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Zurich Insurance Group AG provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific. It operates through Property & Casualty Regions, Life Regions, and Farmers segments.
Full company description
Zurich Insurance Group AG provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific. It operates through Property & Casualty Regions, Life Regions, and Farmers segments. The company offers car and motor, home, travel, general liability, life and critical illness, and other insurance products; and saving and investment, and pension and retirement planning products. It also provides property, casualty, energy and engineering lines, and marine; management liability, financial institutions, and professional indemnity; and cyber, accident and health, and credit lines and surety insurance products, as well as non-claims and ancillary services to the farmers exchanges. In addition, it offers employee benefit insurance products; and climate resilience, risk engineering, captive, cyber resilience, and reinsurance services. It serves individuals, small businesses, mid-sized and large companies, and multinational corporations. The company sells its products through agents, brokers, and bank distribution channels. Zurich Insurance Group AG was founded in 1872 and is based in Zurich, Switzerland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Zurich Insurance Group AG reported revenue of $91.9B in FY2025 versus $69.5B in FY2021, a compound +7.2%/yr. Reported net income was $7.1B in FY2025, compounding +8.2%/yr from FY2021.
of which total revenue +2.7 % · buybacks/dilution +0.3 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
ZURN screens 80% overvalued. Compare with Berkshire Hathaway Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Zurich Insurance Group AG (ZFSVF) (Q2 2026) Earnings Call Highlights: Record Profits and ...
- Zurich Insurance profit beats estimates as Life growth offsets claims
- Zurich Insurance (Hong Kong) and YAS announce embedded insurance for robots
Peer Group
Insurance - Diversified · 83 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Insurance - Diversified median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Diversified stocks, each showing price versus our Fair Value estimate (as of Sep 2, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Berkshire Hathaway Inc BRKB80 | 1.67 THB | 1.48 THB | −11% |
| Allianz SE ALV | €453.00 | €266.04 | −41% |
| AXA SA CS | €43.61 | €39.90 | −9% |
| Assicurazioni Generali S.p.A G | €44.11 | €10.92 | −75% |
| Sun Life Financial Inc SLF | C$108.85 | C$57.05 | −48% |
| American International Group AIG | $76.14 | $80.91 | +6% |
| The Hartford Insurance Group HIG | $137.38 | $133.10 | −3% |
| Arch Capital Group ACGL | $98.76 | $124.45 | +26% |
| Swiss Life Holding SLHN | CHF 919.00 | CHF 425.23 | −54% |
| Sampo Oyj SAMPO | €9.68 | €6.06 | −37% |
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