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Zurich NA names Deirdre Manna Head of Government & Industry Affairs

17th July 2018

Zurich North America, a division of Zurich Insurance Group, has appointed Deirdre Manna as Head of Government & Industry Affairs. Manna undertook the role on July 9 and will be leading Zurich’s engagement with elected officials at the state and federal level on public policy issues that may impact the company’s ... Read the full article

Tim Plant named CEO of General Insurance, Australia & New Zealand, Zurich

9th July 2018

Zurich Australian Insurance Limited, a division of global insurer Zurich, has appointed Tim Plant as Chief Executive Officer (CEO) of General Insurance, Australia & New Zealand, effective August 7th, 2018. Plant joins the firm from icare, where he was most recently Group Executive of Insurance for NSW, which is the largest public ... Read the full article

Zurich’s flood resilience alliance extended to 2023 with new $1bn funding goal

4th July 2018

The flood resilience alliance led by Zurich Insurance Group has been extended until 2023, with new five-year objectives including the generation of US $1 billion in additional funding for flood resilience programmes. The multi-sector alliance of non-governmental organisations (NGOs), academia, and risk management experts has already provided post-event recovery support to 110 ... Read the full article

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

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