KBW bullish on Zurich profit forecasts
Analyst Keefe Bruyette and Woods has projected Zurich Financial Services's fourth quarter results will report net attributable earnings of $419mn (£239m) (4Q04: $730mn; consensus: $419mn-1.1bn) and a business operating profit (ZFS basis) of $688mn (4Q04: $653mn; consensus: $688-917mn).
KBW made the following comments on ZFS' figures which will be published on 16 February:
Bull (1) – Combined ratio. We expect a 4Q05 combined ratio of 104.4%. This includes $0.3bn (4.4pp) fromOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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