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.
Monument Re completes acquisition of portfolio from Zurich International Life
4th November 2022
Monument Re’s Isle of Man subsidiary, Monument International Life Assurance Company Limited (MILAC) has completed its acquisition of the closed book portfolio of Zurich International Life Limited’s (ZILL) Singapore long term life insurance business. The ZILL Singapore branch portfolio and employees have transferred into the Singapore branch of MILAC following receipt ... Read the full article
Zurich to provide resilience services to the Worldwide Broker Network
2nd November 2022
Zurich Resilience Solutions has announced that it will become the preferred supplier of resilience and sustainability to the Worldwide Broker Network (WBN), effective from January 1 ,2023. Zurich will provide services to more than 100 broker members in over 100 countries. The Zurich Resilience Solutions offering will be available for all WBN ... Read the full article
Biodiversity metrics to enable climate change mitigation: Zurich
27th October 2022
In a recent report, Zurich Insurance Group has observed how biodiversity metrics make for more effective voluntary carbon markets, delving into how this potential can be realised to mitigate and adapt to the effects of climate change. As countries focus on energy security amid Russia’s ongoing invasion of Ukraine, Zurich Insurance ... Read the full article
Penny Seach named CUO at Zurich
13th October 2022
Zurich Insurance Group has announced the appointment of Penny Seach to the role of Group Chief Underwriting Officer, effective January 1, 2023. Seach currently serves as Chief Underwriting Officer EMEA, and will continue in this role through the end of the year. As Group CUO, she will report to Sierra Signorelli, CEO Commercial Insurance, ... Read the full article
Zurich recruits Global Cyber Underwriting Manager from Munich Re
2nd September 2022
Switzerland headquartered insurer Zurich Insurance Group has appointed Andreas Schmitt as its new Global Cyber Underwriting Manager. He joins the company from Munich Re, where he most recently served as a Senior Executive Advisor, based in Singapore. Schmitt spent more than 12 years at Munich Re, working across Germany, Australia and Singapore. ... Read the full article
Zurich announce new appointments to Commercial Underwriting
18th August 2022
Zurich Insurance Group has announced two new appointments to its Commercial Insurance Underwriting team. Stephen Moss joins as Group Head of Financial Lines and Cyber, and Andreas Schmitt joins as Group Cyber Underwriting Manager. Moss first began serving Zurich in 2017, as Head of Specialties, UK. He has more than two decades ... Read the full article
Zurich reports huge rise in operating profit
11th August 2022
Zurich is reporting that it saw a 25% rise in operating profit for H1 2022. The firm said in a statement about its latest results that its group business operating profit had risen to $3,393m, which it said was its highest in fourteen years. Likewise, it said its P&C business operating ... Read the full article
Canada Life Re & Zurich appointed in UK pension longevity swap extension
7th July 2022
The UBS (UK) Pension and Life Assurance Scheme is extending its longevity hedge by £0.5bn, and Mercer will continue to act as the lead commercial and investment adviser to the scheme’s Trustee. The Canada Life Assurance Company is acting as the reinsurer on the deal, which was arranged ... Read the full article
Flood resilience and prevention need to achieve better outcomes: Zurich
30th June 2022
Imprecise forecast and modelling, “flood dementia”, and inadequate early warning systems are some of the issues to be addressed to improve flood resilience and prevention, according to Zurich. Last year, the extreme weather event “Bernd” caused great human suffering, and millions in damage; such as primary German insurer Provinzial gross claims ... Read the full article
Zurich to sell German legacy traditional life book to Viridium
24th June 2022
Zurich Insurance Group has agreed to sell its legacy traditional life insurance back book in Germany to Viridium Holding AG, a specialist in the management of life insurance portfolios in the country. The transaction includes the transfer of $20 billion of net reserves, mainly related to annuity and endowment products underwritten ... Read the full article
Zurich’s International Programs business goes digital
16th June 2022
Zurich Insurance Group (Zurich) has announced the digitalisation of its International Programs business. According to the group, the transformation to its program workflow will significantly enhance customer and broker experience and allow for a more efficient, seamless and sustainable collaboration. The digital exchange of data between ... Read the full article
Monument Re acquires closed book portfolio from Zurich International Life
1st June 2022
Monument Re, the life reinsurance and insurance holding company, has agreed to acquire the closed book portfolio of Zurich International Life Limited’s Singapore long term life insurance business. Under the agreement with Zurich International Life Limited, the Singapore branch portfolio and employees will transfer into the new Singapore branch of Monument ... Read the full article
Zurich sells Russian business
23rd May 2022
Global insurer Zurich has agreed to sell its business in Russia to eleven of the unit’s team. The firm said that under its new owners, the business will operate independently under a different brand, while Zurich will no longer conduct business operations in Russia. The transaction will allow the new company to ... Read the full article
Zurich appoints new CFO of commercial insurance in Sarah Maillet
18th May 2022
Zurich has a new CFO of commercial insurance in Sarah Maillet, who takes up the role at the beginning of June. Maillet will report to Sierra Signorelli, CEO of commercial insurance, and be based in Zurich, Switzerland. In her new role, she will be responsible for leading, directing and controlling Commercial Insurance’s ... Read the full article
Zurich grows in P&C in Q1, sees immaterial exposure to Ukraine war
12th May 2022
Global insurer Zurich has seen its property and casualty (P&C) gross written premiums (GWP) jump by 8% in the first-quarter of 2022, as the carrier announces an expected immaterial exposure to Russia's invasion of Ukraine. P&C GWP rose from $11 billion in Q1 2021 to more than $11.9 billion in Q1 ... Read the full article
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