Reinsurance News
Zurich
Zurich’s Greco calls for effective price on carbon, at Davos 2020
21st January 2020
Mario Greco, the Chief Executive Officer (CEO) of Zurich Insurance Group, has called for tax changes designed to ensure carbon is effectively priced across the world. Addressing an audience at the World Economic Forum's (WEF) annual meeting held in Davos, Switzerland, Greco discussed the impacts of digital disruption and the changing ... Read the full article
Zurich boosts underwriting & claims capability in Australia & New Zealand
20th January 2020
Global insurer Zurich has announced three new leadership appointments within its General Insurance operation in Australia and New Zealand, as it looks to strengthen its underwriting and claims capability. In underwriting, Zurich has named Alex Morgan, currently the Head of Specialty for Commercial Insurance for Zurich's Asia Pacific region, as Head ... Read the full article
Zurich & Blue Zebra to end underwriting arrangement
13th January 2020
Zurich Australian Insurance Ltd, a division of global insurer Zurich, has announced the end of its underwriting agency agreement with Blue Zebra Insurance Pty Ltd. The agreement was entered into in February 2018, designed to offer a digitally enabled, end-to-end personal lines insurance platform via brokers in the Australian marketplace. It had ... Read the full article
Zurich acquires Adira Insurance, expanding presence in Indonesia
2nd December 2019
Zurich Insurance Group has completed the acquisition of 80% of PT Asuransi Adira Dinamika (Adira Insurance), thereby becoming the largest property and casualty (P&C) insurer in Indonesia. Adira Insurance is among the top 10 P&C insurers in Indonesia. It generated gross written premiums of US $170.4 million in 2018 and has leading ... Read the full article
Zurich outlines new financial targets for 2022
14th November 2019
Zurich Insurance Group has outlined a new set of financial targets for the 2020 to 2022 period, including business operating profit after tax return on equity in excess of 14%. The company announced the new growth plans just one week on from its Q3 results release, which put it on ... Read the full article
Zurich reports P&C premium growth, improved pricing
7th November 2019
Zurich Insurance Group has reported 2% growth in property & casualty (P&C) gross written premiums for the first nine months of 2019, with further rate acceleration in the third quarter. Adjusting for currency movements, acquisitions and disposals, this translated to 7% on a like-for-like basis, with growth coming from all regions. The ... Read the full article
Juan Carlos Realphe appointed CEO of Zurich Colombia
20th September 2019
The Colombian arm of global insurer Zurich has announced the appointment of Juan Carlos Realphe as Chief Executive Officer, effective October 15. Realphe succeeds Victoria Bejarano, who is expected to remain as Chairman of the Board of Directors and continue playing a role in developing the business. Claudia Dill, CEO for Latin ... Read the full article
DARAG to acquire Zurich’s German architects & engineers professional indemnity portfolio
8th September 2019
Legacy acquirer DARAG Group Limited has entered into an agreement with Zurich Insurance plc to acquire Zurich's German architects and engineers professional indemnity insurance portfolio. Upon effectiveness of the transfer, which remains subject to relevant regulatory and court approvals, DARAG Deutsche Versicherungs- und Rückversicherungs-AG, the firm's German risk carrier, will assume ... Read the full article
Zurich NA, Wright to launch residential private flood insurance
28th August 2019
The North American arm of global insurer Zurich is partnering with flood insurer Wright National on a stand-alone product, due to launch in Florida on September 3, called Zurich Residential Private Flood Insurance With plans to expand coverage to 11 additional states in the future, the product allows property owners to ... Read the full article
Zurich benefits from a strong P&C result in H1 2019
8th August 2019
Global insurer Zurich has reported an increase in property and casualty (P&C) operating profit of 46% and its lowest P&C combined ratio of the past decade, of 95.1%, in the first-half of 2019. Overall, Zurich has reported business operating profit of $2.8 billion for the first-half of the year, an increase ... Read the full article
Zurich disappointed with new Ogden discount rate
16th July 2019
Zurich’s Chief Claims Officer, David Nichols, has expressed “great disappointment” following the Ministry of Justice’s lower-than-anticipated -0.25% Ogden rate change. The rate is used to determine how much money insurers should pay as compensation to people who have suffered life-changing injuries. The lower the rate, the larger the sum insurers ... Read the full article
Alison Martin to succeed Amanda Blanc as Zurich CEO EMEA
10th July 2019
Zurich Insurance Group has announced the appointment of Alison Martin to the role of Chief Executive Officer (CEO) for Europe, Middle East & Africa (EMEA) and Bank Distribution, effective immediately. She succeeds Amanda Blanc, whose surprise departure from Zurich was announced last week after less than nine months in the ... Read the full article
James Stack handed Allianz (AGCS) Pacific CEO role
3rd July 2019
James Stack has been appointed Chief Executive Officer of Allianz Global Corporate & Specialty (AGCS) Pacific, an embedded team within Allianz Australia. Stack is a highly experienced insurance manager and replaces Willem Van Wyk, who is due to leave the group to pursue other opportunities. He brings over 20 years' insurance expertise ... Read the full article
Zurich to put the customer first with new hire
10th June 2019
Conny Kalcher has been has been appointed to Zurich's newly-created Chief Customer Officer role, effective July 1. Reporting directly to the Group Customer Officer, Mario Greco, she joins from MindFolio, an innovation and analytics consultancy based in London and Chicago, where she was Partner since 2018 She also brings with her a ... Read the full article
Zurich completes purchase of ANZ’s OnePath Life
3rd June 2019
Zurich Insurance Group has announced the completion of its acquisition of ANZ’s life insurance business, OnePath Life, for AU $2.85 billion (US $2.14 billion). The transaction, which was first announced in December 2017, will provide Zurich with up to 6 million new customers in Australia, leaving it with a market ... Read the full article