A.M. Best Comments on Zurich Financial Services' 2002 Year-End Results.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--Feb. 27, 2003 A.M. Best Co. has commented that the financial strength rating of A (Excellent) of Zurich Financial Services Zurich Financial Services Group is a major financial services group based in Zurich, Switzerland. Global operations North America The US consumer market is served primarily by Farmers Insurance Group the third largest personal lines property & casualty insurance Group (ZFS (1) (Zettabyte File System) A distributed file system from Sun that was added to OpenSolaris in 2005 and Solaris 10 in 2006. With support for 128 bits, compared to 64 for NTFS and other contemporary file systems, storage capacity is unlimited for all practical ), Switzerland and core subsidiaries remain unchanged. The outlook remains positive following the company's announcement of the 2002 year-end results. As expected, 2002 year-end results are negatively impacted by the write-off of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 950 million of intangible assets and a USD 1.8 billion reserve strengthening, as well as asset impairments and the restructuring charges announced in September. Technical results already indicate an underlying improvement, but the main benefits of ZFS' aggressive global profit and capital management improvement programs (divestment of non-core operations, improved claim management, portfolio pruning pruning, the horticultural practice of cutting away an unwanted, unnecessary, or undesirable plant part, used most often on trees, shrubs, hedges, and woody vines. , substantial non-life price increases, strict cost controls and reduction of equity exposure) are expected to materialize in 2003. ZFS, a leading and diversified provider of insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. products, continues to enjoy an excellent business position in its selected core markets (Switzerland, Germany, Italy, Spain, United Kingdom and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ). ZFS maintains an excellent risk-based capital base in line with its business strategy. This is likely to be further strengthened after exiting some businesses and a USD 500 million hybrid issue planned for 2003. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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