Reinsurance News


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

Zurich launches UK Innovation Foundry

20th February 2018

Zurich has launched a new initiative to tackle changing customer demands and help drive change throughout its operations, the UK Innovation Foundry, set to be led by Mark Budd, UK Head of Innovation. The Innovation Foundry will progress Zurich’s innovation agenda and support the development of all ideas in a formally coordinated ... Read the full article

Zurich appoints Carsten Schildknecht as CEO Germany

12th January 2018

Carsten Schildknecht has been appointed as the new Chief Executive Officer (CEO) of Zurich Insurance Group's Germany operations, after the existing CEO Marcus Nagel announced he would be stepping down. Schildknecht worked at Generali Group from 2013 to 2016 as Group Chief Operating Officer and a member of the insurers Management ... Read the full article

Zurich backs FCA sandbox tested insurtech Laka

11th January 2018

Global insurer Zurich is financially backing an insurance technology (insurtech) start-up named Laka that has tested its product in the UK's Financial Conduct Authority’s (FCA) Regulatory Sandbox. Formerly known as Insure a Thing and now renamed Laka, the start-up offers a new model for insurance, only earning fees when acting in ... Read the full article

Singapore Life acquires $4.5bn business portfolio from Zurich Life Singapore

9th January 2018

Singapore Life Pte. Ltd. is to acquire the business portfolio of Zurich Life Singapore, an agreement that sees the former take responsibility for all of Zurich Life Singapore's clients' policies, totalling roughly SGD6 billion (US$4.5 billion). The agreement represents coverage for life, critical illness, and disability benefits, and all policyholders that ... Read the full article

Zurich buying ANZ’s Australian life insurance business for AU $2.85bn

12th December 2017

Insurance giant Zurich is making a strong move to strengthen its business in Australia, lining up an acquisition of ANZ’s life insurance businesses, OnePath Life, in Australia for AU $2.85 billion (US $2.14 billion). The acquisition will leave Zurich as the market leading retail life insurer in Australia and the company ... Read the full article

Zurich puts Harvey, Irma and Maria losses at $700 million

19th October 2017

Global insurer Zurich expects hurricanes Harvey, Irma and Maria to result in net claims of $700 million in the third-quarter for the firm's property and casualty (P&C) segment, net of reinsurance and pre-tax. After tax, Zurich estimates the hit to its P&C segment from the three events will be $620 million, ... Read the full article

Zurich Assurance adopts the RMS Longevity Model to improve view of risk

4th October 2017

Global catastrophe risk modeller RMS' Longevity Model has been adopted by UK life insurer, Zurich Assurance Ltd., as the firm seeks to better understand its view of longevity risk. Zurich Assurance is a division of global insurer Zurich Insurance Group, and, according to a recent announcement has licensed the RMS Longevity ... Read the full article

Zurich backs Pen Underwriting in new motor capacity deal

29th September 2017

Zurich has agreed to a new deal to provide capacity for up to £150 million in premium over the next five years for Pen Underwriting motor capacity in the specialist area of hazardous and tanker transportation. Adam Shefras, Managing Director of Hazardous Goods & Environmental Industries at Pen Underwriting, said; “We’re delighted ... Read the full article

Kathleen Savio to replace Mike Foley as CEO of Zurich North America

21st September 2017

Mike Foley, the Chief Executive Officer (CEO) of Zurich North America, a division of Zurich Insurance Group, is to retire from the company and be replaced by Kathleen Savio. Savio is currently President of Zurich North America's Alternative Markets division, and the change is effective January 1st, 2018. She assumed her current ... Read the full article

Alison Martin joins Zurich from Swiss Re as Group Chief Risk Officer

1st September 2017

Zurich Insurance has named Alison Martin as new Group Chief Risk Officer to succeed Cecilia Reyes, she will join the group on October 1st and commence her new role with effect from January 2018. Martin will work closely with Reyes as Group Chief Risk Officer-Designate, before assuming the Group Chief Risk ... Read the full article

Former Swiss Re CEO Liès proposed as new Chairman of Zurich Board

6th July 2017

The Zurich Insurance Group (Zurich) Board of Directors has put Michel Liès forward for election as Chairman at the upcoming April, 2018 Annual General Meeting (AGM). Lies is proposed to succeed Tom de Swaan who has held the position since 2013 and been a board member since 2006. Tom de Swaan, Chairman of ... Read the full article

SCOR reinsures Zurich’s longevity swap for Skanska pension fund

3rd July 2017

Zurich Assurance has signed a longevity hedge swap with Skanska Construction Services Trustee covering £300 million of liabilities, with Mercer acting as lead advisor to the trustee on the deal. 75% of the longevity hedge was reinsured by SCOR, with Zurich retaining the rest. Jim Sykes, Chief Executive Officer (CEO) of Zurich ... Read the full article