Reinsurance News
Zurich
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
Zurich notes improved P&C pricing trends in the first-quarter
9th May 2019
Global insurer Zurich has report growth across all regions within its property and casualty (P&C) business in the first-quarter of 2019, while the firm remains on track to meet or exceed its full-year targets. The P&C segment recorded like-for-like premium growth of 4% in Q1 2019 to $9.2 billion. However, in ... Read the full article
Enstar to reinsure $500m US asbestos portfolio for Zurich
17th April 2019
A subsidiary of Bermuda-based re/insurance, run-off and legacy transaction specialist Enstar Group Limited has signed an agreement with a subsidiary of global insurer Zurich that will see it reinsure a book of US asbestos and environmental liability insurance portfolios. Roughly $500 million of gross insurance reserves related to 1986 and prior ... Read the full article
Zurich Canada secures Aon’s Marco Royer as Head of Liability
12th April 2019
The Canadian operations of global insurer Zurich has announced the appointment of Marco Royer as Head of Liability, effective July 1. Royer joins from Aon after a 12 year stretch at the firm, most recently serving as the Head of its Canadian reinsurance broking team. He has a strong technical casualty underwriting ... Read the full article
Zurich partners with riskmethods on supply chain risk and management services
7th March 2019
Zurich Insurance Group has announced a new strategic partnership with supply chain risk management firm, riskmethods GmbH, to provide the insurer's commercial clients with new supply chain and risk management services. Zurich states that its risk engineering and insurance expertise, combined with riskmethods' unique artificial intelligence (AI) driven technology will enable ... Read the full article
Zurich bought more, tweaked reinsurance protection: CFO Quinn
12th February 2019
The Chief Financial Officer (CFO) of global insurer Zurich, George Quinn, recently discussed the firm's increased reinsurance purchase as it continues to tweak its protection in light of attractive pricing. Speaking during the insurer's Q4 2018 earnings call, CFO Quinn highlighted the firm's increased utilisation of reinsurance, especially around the casualty ... Read the full article
Zurich on track for 2019 as P&C underwriting performance improves
7th February 2019
Global insurer Zurich saw its business operating profit (BOP) increase by 20% in 2018, helped by improved underwriting performance in its property & casualty (P&C) business despite the challenging market landscape. At $4.6 billion, Zurich's BOP for the full-year 2018 increased 20% year-on-year, while the firm's net income, after-tax and attributable ... Read the full article
Drazen Jaksic joins Zurich as Head of A&H Underwriting, Commercial Insurance
31st January 2019
Global insurer Zurich has named Drazen Jaksic as its new Head of Accident & Health (A&H) Underwriting within its Commercial Insurance division. Based in London, Jaksic will assist the company its push to improve consistency and growth across the world in Zurich's international A&H portfolio. He joins Zurich from insurer Chubb, where ... Read the full article
Zurich CEO optimistic about P&C rates in 2019
25th January 2019
Mario Greco, Chief Executive Officer of Zurich Insurance Group, has said that the company is optimistic about the prospects for property and casualty (P&C) re/insurance pricing in 2019. Speaking in an interview with CNBC at the World Economic Forum 2019 event in Davos, Switzerland this week, Greco said that market conditions ... Read the full article
Zurich announces $2bn legacy portfolio transfer to Catalina
17th December 2018
Zurich Insurance, a subsidiary of Zurich Insurance Group, has entered into an agreement with Catalina Holdings that will see the majority of Zurich’s UK employers’ liability (UK EL) policies for 2006 and prior underwriting years transferred to Catalina. This major portfolio transfer represents a significant step forward in Zurich’s efforts to ... Read the full article
Zurich partners with claims insurtech Snapsheet
28th November 2018
Zurich Insurance Group is partnering with Snapsheet, a provider of virtual claims technology, as it looks to streamline its customer experience and drive new and innovative tech implementations. Snapsheet’s software as a service (SaaS) platform allows intake of information from various customer channels including e-mail, text, or a web and mobile ... Read the full article