Reinsurance News
Zurich
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
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