Zurich Insurance Group AG (Zurich Insurance Group AG) Net Reserve Development From Prior Years (USD Mil) : 0.00 (As of . 20)

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What is Zurich Insurance Group AG Net Reserve Development From Prior Years (USD Mil)?

Net Reserve Development From Prior Years (USD Mil) is the difference between the final losses recorded by an insurer and what the insurer originally recorded.

Zurich Insurance Group AG's Net Reserve Development From Prior Years (USD Mil) for the annual that ended in Dec. 2023 was 0.00

The historical rank and industry rank for Zurich Insurance Group AG's Net Reserve Development From Prior Years (USD Mil) or its related term are showing as below:

ZURVY's Net Reserve Development From Prior Years (USD Mil) is not ranked ^*
in the Insurance industry.
Industry Median:
* Ranked among companies with meaningful Net Reserve Development From Prior Years (USD Mil) only.

Zurich Insurance Group AG Net Reserve Development From Prior Years (USD Mil) Historical Data

The historical data trend for Zurich Insurance Group AG's Net Reserve Development From Prior Years (USD Mil) can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Zurich Insurance Group AG Net Reserve Development From Prior Years (USD Mil) Chart

Zurich Insurance Group AG Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Net Reserve Development From Prior Years (USD Mil)

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Competitive Comparison of Zurich Insurance Group AG's Net Reserve Development From Prior Years (USD Mil)

For the Insurance - Diversified subindustry, Zurich Insurance Group AG's Net Reserve Development From Prior Years (USD Mil), along with its competitors' market caps and Net Reserve Development From Prior Years (USD Mil) data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Zurich Insurance Group AG (OTCPK:ZURVY) Net Reserve Development From Prior Years (USD Mil) Explanation

Net Reserve Development From Prior Years (USD Mil) is the difference between the final losses recorded by an insurer and what the insurer originally recorded. Prior years’ loss reserve development is useful to the company's management team, as it allows them to assess the impact of incurred claims from previous calendar years on current period earnings.

Generally, lower Prior Years’ Reserve Development is better because it means a higher accuracy on predicting the loss on incurred claims.

Zurich Insurance Group AG Net Reserve Development From Prior Years (USD Mil) Related Terms

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Zurich Insurance Group AG (Zurich Insurance Group AG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Zurich Insurance Group AG (OTCPK:ZURVY) » Definitions » Net Reserve Development From Prior Years (USD Mil)

Comparable Companies

Traded in Other Exchanges

ZFSVF:USA ZURN:Mexico ZURNz:UK 0QP2:UK ZFI1:Germany ZURN:Switzerland

Address

Mythenquai 2, Corporate Center, Zurich, CHE, 8002

Website

https://www.zurich.com

Zurich is a multiline insurer that writes business across both life and non-life insurance and also owns Farmers Management Services. The company was founded in 1872, originally as a marine reinsurer, to provide reinsurance to its parent company. Zurich subsequently expanded into transport and accident insurance and then rode the wave of transport technology innovation that drove rising demand for insurance. One of Zurich's early principles was that setting prices too low would result in unfair claims handling that would be damaging to both customers and Zurich. Over the years Zurich has sought to combine goodwill in claims with a sufficient premium. Zurich is now one of the most successful insurers in Europe.