Reinsurance News
Zurich
Zurich is one of the largest insurance companies in the world. Headquartered in Switzerland, Zurich Insurance provides a wide range of specialist commercial insurance products and is a meaningful buyer of reinsurance protection.
Reduced exposure to volatile lines to improve earnings visibility: J.P. Morgan
4th July 2018
Analysts at J.P. Morgan have said that the decision of some re/insurers to reduce their exposure to more volatile lines of business, namely natural catastrophe exposures, and focus on other, more stable classes, will lead to better earnings visibility as well as a faster rerating. Focusing mostly on the actions taken ... Read the full article
Zurich completes Oak Underwriting takeover
3rd July 2018
Global insurer Zurich has completed the acquisition of Oak Underwriting from RSA Insurance, enhancing the company's high net-worth proposition, known as Zurich Private Clients. The insurer's purchase of Oak Underwriting, a high net-worth specialist insurer, makes Zurich one of the largest high net-worth insurers in the UK, and provides it with ... Read the full article
Zurich partners with Insurtech platform Digital Insurance Group
14th June 2018
Zurich has signed a multi-year collaboration deal with Amsterdam-headquartered insurtech platform Digital Insurance Group (DIG). Parallel to the agreement, DIG has received $15 million via a funding round co-lead by Zurich Insurance and Finch Capital. This deal bolsters Zurich’s digital capabilities moving forward, providing access to a next generation technology experienced ... Read the full article
Zurich invests in Insurtech startup Coverwallet
11th June 2018
Zurich has acquired a minority stake in U.S. based Insurtech startup Coverwallet, an online platform founded in 2015 that simplifies the purchase and management of insurance for businesses. This announcement builds upon an agreement between the two companies in February that saw the launch of Zurich, Powered by Coverwallet (ZPC) - ... Read the full article
Aon confident of resurgent longevity swap market
18th May 2018
Following their role as lead transaction advisor for Zurich’s recent longevity swap, covering more than £2 billion of the pensioner liabilities of the National Grid Electricity Group of the Electricity Supply Pension Scheme (ESPS), Aon believes that the longevity swap market is back in business. The transaction, which we covered ... Read the full article
Zurich completes £2bn longevity risk transfer deal with UK’s National Grid
15th May 2018
Zurich Insurance Group has completed an intermediated longevity swap deal that covers more than £2 billion of pensioner liabilities for the UK’s National Grid Electricity Group of the Electricity Supply Pension Scheme (ESPS). The transaction, which represents Zurich’s largest ever longevity swap arrangement, will protect the National Grid against the risk ... Read the full article
Zurich finalises $1bn reinsurance commission in takeover of ANZ’s OnePath Life
8th May 2018
Zurich has finalised its reinsurance arrangements with ANZ, paying $1 billion of upfront reinsurance commission as the first step in its acquisition of ANZ’s Australian life insurance business, OnePath Life. The sale of OnePath Life was announced in December 2017 and was arranged to consist of two transactions totalling $2.85 billion. The ... Read the full article
Zurich strengthens UK underwriting team with hires from Chubb and QBE
3rd May 2018
Zurich has announced that it plans to strengthen its UK underwriting team with a string of new leadership hires, including the appointment of Chubb’s Antony Statham as Head of Regional Financial Lines, and QBE’s Paul Mundy as Regional Underwriter Leader for the North. The new appointments represent part of Zurich’s strategy ... Read the full article
Zurich’s reinsurance unit advised to use an internal model
1st May 2018
Zurich Reinsurance Company Ltd (ZRe), the reinsurance arm of global insurer Zurich, has been advised by the Swiss Financial Market Supervisory Authority (FINMA) that it must use an internal model over the standard model, prompting the reinsurer to apply for approval. According to a section on the Swiss solvency test (SST) within ... Read the full article
Zurich appoints AXA’s Blanc as CEO for Europe, Middle East & Africa
6th April 2018
Zurich Insurance Group has announced that Amanda Blanc, current Chief Executive Officer (CEO) of AXA UK & Ireland, is to join the company and succeed Gary Shaughnessy as CEO for Europe, Middle East & Africa (EMEA). The transition is due to be implemented in the fourth quarter of 2018, and will ... Read the full article
Michel Liès, former Swiss Re CEO, voted in as new Chairman of Zurich
5th April 2018
At yesterdays annual general meeting in Zurich the shareholders of insurance giant Zurich Insurance Group Ltd. voted in ex-Swiss Re CEO Michel Liès as the new Chairman of the Board. The position had been proposed earlier this year, with Liès put forward to replace Tom de Swaan, who had held ... Read the full article
Zurich to acquire Oak Underwriting from RSA Insurance
28th March 2018
Zurich UK has announced plans to acquire Oak Underwriting plc from RSA Insurance for an undisclosed consideration. The agreement is expected to transform Zurich’s scale in the high net-worth sector, providing its existing high net-worth proposition, Zurich Private Clients, with a broader distribution platform and enhanced regional presence. Zurich claims that the ... Read the full article
Zurich launches UK Innovation Foundry
20th February 2018
Zurich has launched a new initiative to tackle changing customer demands and help drive change throughout its operations, the UK Innovation Foundry, set to be led by Mark Budd, UK Head of Innovation. The Innovation Foundry will progress Zurich’s innovation agenda and support the development of all ideas in a formally coordinated ... Read the full article
Zurich appoints Carsten Schildknecht as CEO Germany
12th January 2018
Carsten Schildknecht has been appointed as the new Chief Executive Officer (CEO) of Zurich Insurance Group's Germany operations, after the existing CEO Marcus Nagel announced he would be stepping down. Schildknecht worked at Generali Group from 2013 to 2016 as Group Chief Operating Officer and a member of the insurers Management ... Read the full article
Zurich backs FCA sandbox tested insurtech Laka
11th January 2018
Global insurer Zurich is financially backing an insurance technology (insurtech) start-up named Laka that has tested its product in the UK's Financial Conduct Authority’s (FCA) Regulatory Sandbox. Formerly known as Insure a Thing and now renamed Laka, the start-up offers a new model for insurance, only earning fees when acting in ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
