Zurich records SST ratio of 267%

Written by Adam Cadle

02/05/2023

Zurich has recorded a Group Swiss Solvency Test (SST) ratio of 267% as per January 2023, up from 212% a year earlier.

The group said the rise “reflects the rise in interest rates across all currencies and strong underlying capital generation”.

Zurich also maintained its strong rating level. As of April 2023, the Insurance Financial Strength Rating of Zurich Insurance Company Ltd, the main operating entity of the group, was rated ‘AA/Stable’ by S&P Global Ratings, ‘Aa3/positive by Moody’s, and ‘A+ (Superior)/Stable’ by AM Best. AM Best Issuer Credit Rating was ‘aa–/positive’. On 13 January 2023, Moody’s changed the Zurich Insurance Company rating outlook from ‘Aa3/stable’ to ‘Aa3/positive’, positioning the company as one of the first European insurers to approach the Aa2 level.

“These ratings are a result of Zurich’s strong and stable profitability, balanced business mix, disciplined capital management and reduced exposure to interest rate and credit risks,” it said.

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