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.
Bernard promoted to Head of Industry Practices for U.S. Middle Market at Zurich
14th November 2024
Stan Bernard has been promoted to Head of Industry Practices for the U.S. Middle Market at Zurich North America, taking over the role from Lynn Zeitler, who will be retiring in December after 31 years with Zurich. In his new role, Bernard will collaborate to implement strategic plans and drive growth ... Read the full article
Ageas Re opens Zurich branch, appoints Anne Deister as Branch Manager
8th November 2024
Ageas Re, the reinsurance brand of international insurance group Ageas, has opened a new branch in Zurich and appointed Anne Deister as Branch Manager. The establishment of Ageas SA/NV Zurich Branch (Ageas SA/NV, Brussels, Swiss Branch Zurich) allows the company to write reinsurance contracts directly from Zurich on Ageas SA/NV’s established ... Read the full article
Zurich P&C sees revenue increase as GWP grows 4% in 9M’24
7th November 2024
Zurich has released its financial results for the first nine months of 2024, reporting a “robust performance” as gross written premiums (GWP) for its P&C segment rose 4% and insurance revenue was up 6% with rate increases of 5% year-on-year. The Group also highlighted that in the first nine months of ... Read the full article
Data and tech will distinguish top performers, says Zurich’s Signorelli
29th October 2024
During re/insurance broker Aon’s Profitable Growth Panel, Sierra Signorelli, CEO of Commercial Insurance at Zurich, emphasised that the use of data and technology is really going to distinguish top performers in the coming years. She noted that leveraging advancements in data and technology enables better decision-making, facilitates more informed conversations about ... Read the full article
4 in 5 residents feel their city is underprepared for climate-related risks: Zurich
24th October 2024
A recent report from Zurich Insurance Group and Economist Impact reveals that four out of five people believe their city is underprepared for climate-related risks, with major concerns about heat waves, air pollution, water shortages, and flooding. The report focuses on climate change in cities around the world and offers actionable ... Read the full article
Moody’s upgrades Zurich Insurance’s rating with stable outlook
18th September 2024
Moody’s Ratings has upgraded the insurance financial strength rating (IFSR) of Zurich Insurance Company (ZIC), the main insurance arm of Zurich Group, from Aa3 to Aa2. Additionally, Moody’s has raised Zurich Group’s long-term debt ratings by one notch. The outlook for all issuers has been revised to stable from positive. The upgrade ... Read the full article
Robin Cooper-Driver & Edward Rayfield join Zurich’s APAC Commercial Insurance unit
9th September 2024
Zurich Insurance Company has announced two key appointments to its Asia Pacific (APAC) Commercial Insurance business, with Robin Cooper-Driver as new Head of Financial Lines, Asia Pacific, and Edward Rayfield as Head of Casualty, Asia Pacific. Both will be based in Singapore and will report to Liam Burrell, CEO Singapore & ... Read the full article
Newly launched Zurich Climate Resilience Alliance to address the climate crisis
3rd September 2024
Zurich Insurance Group and its corporate foundation, the Z Zurich Foundation, have launched the Zurich Climate Resilience Alliance (the Alliance) to assess current levels of resilience within vulnerable communities and implement appropriate solutions to climate hazards. The Alliance evolved from the Zurich Flood Resilience Alliance launched in 2013, bringing together a ... Read the full article
Zurich Singapore names Nixon Ooi as Head of Accident & Health
19th August 2024
Zurich Singapore has appointed Nixon Ooi as Head of Accident and Health, reporting to Alexandra Cowley, Chief Underwriting Officer, Singapore. Ooi's remit in this role will include leading underwriting, portfolio management and proposition development for Accident & Health. With over 12 years of industry experience, Ooi joins Zurich from Chubb, where he ... Read the full article
Zurich sees best-ever H1 operating profit of $4bn
8th August 2024
Zurich has announced that its group business operating profit (BOP) climbed to a record $4 billion in H1 of 2024, marking an increase of 7% compared to the same period of 2023. The firm's net income attributable to shareholders also increased in H1 of 2024, rising 21% to $3 billion. Zurich's P&C ... Read the full article
AIG to sell its personal travel insurance & assistance business to Zurich
26th June 2024
Global insurer American International Group, Inc. (AIG) has entered into a definitive agreement with Zurich Insurance Group to sell the latter its global individual personal travel insurance and assistance business for $600 million in cash plus additional earn-out consideration. The sale is expected to close by the end of 2024, subject ... Read the full article
Former Fortitude Re CEO Bracken named Zurich NA CFO
25th June 2024
Zurich North America has hired insurance executive James Bracken as Chief Financial Officer, succeeding Peter Hirs, who is set to return to Zurich Insurance Group in Switzerland as Group Head of Mergers & Acquisitions. As Zurich North America CFO, Bracken will be tasked with overseeing Actuarial, Financial Accounting and Reporting (FAR), ... Read the full article
Zurich acquires 70% of India’s Kotak General Insurance
19th June 2024
Zurich Insurance Company's acquisition of a majority stake in Kotak Mahindra General Insurance Company Limited, for a total consideration of Rs. 5,560 crores (USD 670 million), makes it the first foreign insurer to enter India since the FDI rules were changed to allow up to 74% foreign ownership in 2021. Together, ... Read the full article
Zurich Singapore appoints Matt Graves as Chief Claims Officer
28th May 2024
Zurich Singapore has appointed Matt Graves as its new Chief Claims Officer, reporting directly to Liam Burrell, Chief Executive Officer of Singapore and Head of Commercial Insurance Asia. Graves’ remit will include an enterprise-wide responsibility for all claims functions across Zurich Singapore’s Commercial and newly launched Retail segment. In his new role, ... Read the full article
Zurich P&C revenue hits $10.25bn in Q1 as GWP swell 9%
16th May 2024
Zurich Insurance Group has reported that Q1 2024 P&C insurance revenue was up 12% on a like-for-like basis to $10.25 billion, driven by strong commercial and retail growth. In commercial, rates improved across all regions with an average of 5%. Zurich noted that its North American line was a key contributor, ... Read the full article
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