Reinsurance News

Zurich

Zurich agrees to acquire AlphaChat

16th December 2021

Zurich Insurance Group (Zurich) has agreed to acquire Estonia-based company AlphaChat, which provides conversational artificial intelligence (AI) technology for customer service automation, to further enhance the Group’s digital capabilities. Founded in 2017, AlphaChat has built a messaging automation product capable of understanding natural language, authenticating users, providing personalised responses and executing ... Read the full article

Zurich CEO ‘very confident’ on 2022 targets

19th November 2021

Zurich Chief Executive Officer Mario Greco says he is "very confident" that his group can deliver on its 2022 targets, citing investment in developing customer service satisfaction and deployment of new technologies, as well as an overall adjustment of services in response to customer needs. His comments come as the group ... Read the full article

Zurich acquires Special Insurance Services in Texas

12th November 2021

Zurich American Insurance Company has signed an agreement to acquire Special Insurance Services, Inc. (SIS), a Texas-based program manager whose offerings include gap medical and occupational accident insurance products. ZAIC's Accident and Health products for employers and other groups include voluntary benefits, travel insurance and assistance, gap medical, medical stop-loss, occupational ... Read the full article

Zurich won’t change reinsurance significantly despite aggregate exhaustion: CFO Quinn

11th November 2021

Insurer Zurich has no intentions to significantly alter its use of reinsurance protection despite the impacts of hurricane Ida and the European floods exhausting the company's aggregate catastrophe cover in the third quarter, according to Chief Financial Officer (CFO), George Quinn. Alongside robust premium growth, Zurich's Q3 2021 results highlighted ... Read the full article

Zurich grows P&C premiums by 11% in first nine months of 2021

11th November 2021

Property & Casualty (P&C) gross written premiums (GWP) increased by 11% at Zurich through the first nine months of 2021, as the company benefited from higher premium rates amid increases in commercial insurance. P&C GWP jumped from $27.3 billion in 9M 2020 to $31.2 billion in 9M 2021, while rate increases ... Read the full article

Zurich partners with BOXX insurance for cybersecurity and insurance solutions

23rd September 2021

Zurich Insurance Group has collaborated with Toronto-based Insurtech, BOXX Insurance (BOXX), which provides fully-integrated cybersecurity and insurance solutions for small-to-medium-sized businesses (SMEs), consumers and families. Technology has brought significant benefits to businesses and individuals – improving lifestyles and connecting people wherever they are in the world. However, the increased adoption of digital ... Read the full article

Zurich enters £105mn agreement with AIUA

21st September 2021

Global insurer Zurich has signed a five year agreement with specialist underwriter and Ardonagh subsidiary AIUA, worth an estimated £105 million of gross written premium. Under the agreement Zurich has agreed to provide sole underwriting capacity for a portfolio of farm and agriculture motor. "This deal further strengthens our strategic relationship with ... Read the full article

Zurich puts capacity behind Howden’s KGM Underwriting

16th September 2021

Zurich UK has announced a new long-term agreement with KGM Underwriting, a specialist and niche motor insurer and part of the A-Plan / Howden Group. The partnership secures Zurich’s solus capacity, over a five-year term, for KGM’s motor portfolio. The five-year arrangement is worth over £700 million GWP and will commence in ... Read the full article

Zurich hires Caroline Dunn as CUO, UK

2nd September 2021

Global insurance group Zurich has appointed Caroline Dunn as Chief Underwriting Officer for its UK branch to lead its underwriting strategy across all lines of business. Dunn will join the Zurich team in November, following Hayley Robinson’s recent promotion to the role of Chief Group Underwriting Officer at Zurich Insurance Group. She ... Read the full article

Zurich names Paolo Mantero Chief Strategy Officer

31st August 2021

Global insurance group Zurich has promoted its current commercial insurance Chief Financial Officer Paolo Mantero to serve as Group Chief Strategy Officer. Effective January 1, Mantero will report to Group Chief Executive Officer Mario Greco. His new role will involve oversight of all strategy resources globally and aims to strengthen coordination and ... Read the full article

Zurich hires Peter Kasahara as Chief Data Officer

26th August 2021

Zurich Insurance Group (Zurich) has appointed Peter Kasahara to the new role of Chief Data Officer (CDO). Kasahara will oversee all aspects of data management and to help drive the group’s digital transformation. Leading global data management and governance, he will help develop new data analytics capabilities and products, whilst expanding Zurich’s ... Read the full article

Zurich Middle East names Reena Vivek interim CEO

25th August 2021

Global insurance giant Zurich's Middle East life unit has named a new interim Chief Executive Officer, as long-time Zurich executive Reena Vivek steps into the role. Zurich International Life in the Middle East said in June that its CEO Walter Jopp would step down from the role as chief executive officer ... Read the full article

Zurich NA names Kelly Kinzer to lead Construction Casualty

17th August 2021

Zurich North America has appointed Kelly Kinzer to the newly created role of Head of Construction Casualty. The appointment is seen as a reflection of Zurich's efforts to realign its Construction business into two segments (Property and Casualty) to simplify and enhance how it goes to market and serves project owners, ... Read the full article

Zurich profit rises 60% to $2.7bn, says European floods to dent full-year

12th August 2021

Global insurance and reinsurance group Zurich has reported a 60% increase in its first-half operating profit, which came out at $2.7 billion for H1 2021. This was supported by strong performance in Zurich's property and casualty division, which reported a 93.9% combined ratio, a level that the company said it has ... Read the full article

Zurich considers sale of €200m Italy life portfolio: reports

11th June 2021

Global insurer Zurich is reportedly considering a sale of an Italian portfolio of life insurance policies worth around €200 million, according to sources at Reuters. The publication said that Zurich could also be looking to sell its German life back book business, and is working with UBS to explore options. Many life ... Read the full article