Zurich Insurance Group AG

ZURN: XSWX (CHE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Zurich Earnings: Business Operating Profit Beat Flatters Lackluster Performance in the Units

Henry Heathfield

Feb 19, 2026

While Zurich Insurance has reported operating profit of $8.9 billion over 2025, a light beat versus our forecasts of $8.6 billion, we see some sluggish underlying performance in the business units, and the company seems a little off track on its targets for the next few years.

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Zurich Insurance Group AG

Zurich Earnings: Business Operating Profit Beat Flatters Lackluster Performance in the Units

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