Reinsurance News
Zurich
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
Zurich CEO Greco denies acquisition rumours
26th November 2018
Mario Greco, Chief Executive Officer (CEO) of Zurich Insurance Group, has denied rumours that the company would consider a takeover bid from another large re/insurer or tech firm, according to Finews. Speaking at a recent conference event hosted by Handelsblatt in Munich, Greco reportedly said that a cross-border, transforming transaction would ... Read the full article
Zurich expects rates momentum to slow into 2019, says CFO Quinn
14th November 2018
Zurich Insurance Group continues to achieve rate increases across its property and casualty (P&C) lines, but it expects pricing momentum to slow down as it moves into 2019, according to Chief Financial Officer George Quinn. Speaking during a third quarter earnings call, Quinn explained that the overall rate changes experienced over ... Read the full article
Zurich anticipates $175mn Hurricane Michael loss
8th November 2018
Zurich Insurance Group has released its results for the first nine months of 2018, in which it estimates that losses related to Hurricane Michael in the fourth quarter are likely to be around US $175 million. Category 4 Michael made landfall in the Florida Panhandle on October 10th as the strongest ... Read the full article
GDPR & cyber concerns hindering UK SME’s Brexit planning: Zurich
28th September 2018
Complex Issues such as GDPR compliance plus concerns surrounding cyber security may be causing the UK’s small medium-sized business to overlook the importance of planning for Brexit, finds broker survey conducted by Zurich. 24% of respondents said that their SME clients now ask them about GDPR on a regular basis. However, regular ... Read the full article
Zurich to acquire Indonesia’s Adira Insurance for $414m
27th September 2018
Zurich Insurance Group has announced an agreement to acquire 80% of Indonesian property and casualty insurer PT Asuransi Adira Dinamika from PT Bank Danamon Indonesia and a minority investor for $414 million (IDR 6.15 trillion), a deal that will make Zurich the largest foreign P&C insurer in the country. The transaction ... Read the full article
Zurich urges businesses to prepare for climate change
25th September 2018
Zurich Insurance Group has called on businesses to act now and prepare for climate change, as internationally-agreed targets for lower greenhouse emissions look set to miss their mark. The new report from Zurich outlines three steps it believes will help companies develop a climate resilience adaptation strategy. These steps include identifying the ... Read the full article
RSA appoints Zurich’s Adrian Sweeney as CUO
20th September 2018
Leading commercial insurer RSA has announced the appointment of Adrian Sweeney as Chief Underwriting Officer for UK and International business, effective October 1. Sweeney joins from Zurich after 25 years serving across various international businesses in senior underwriting and operations roles; he became CUO for the company’s commercial businesses globally in ... Read the full article
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
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