Reinsurance News
20th April 2021
The recently-formed North American Life, Accident and Health unit of Zurich is set to be led by new Head David Fike, an industry stalwart who has been with the global insurer since 2014. Fike will report to Zurich North America CEO Kristof Terryn. Reporting to Fike, David Dietz is to continue serving ... Read the full article
16th April 2021
Global insurer Zurich says it is able to cut property claims settlement times to under 24 hours with a new AI solution created in collaboration with Sprout.ai. Sprout.ai is a London-based claims automation platform that last year secured $2.5 million in a second seed funding round. The solution is described as ... Read the full article
8th April 2021
MetLife, Inc. has announced the completion of its previously announced sale of Metropolitan Property and Casualty Insurance Company and certain wholly-owned subsidiaries to Farmers Group, Inc., a subsidiary of Zurich Insurance Group. First reported in November, the $3.94 billion deal sees Farmers Group jointly acquire MetLife Auto & Home ... Read the full article
8th April 2021
Flood forecaster Previsico has partnered with insurer Zurich and one of their top UK customers in a market-first tripartite pilot across 5,000 UK locations. The aim is to plug a major flood forecasting gap around surface water flooding and significantly reduce the cost of false alarms. One of the biggest risks in ... Read the full article
1st April 2021
Global insurer Zurich has announced it will be setting new targets for its investments and operations in an effort to accelerate the transition to a net-zero emission economy. It has also pledged to help finance the transition and will require companies it invests in to set targets aligned with the Paris Agreement. The group ... Read the full article
18th March 2021
Global insurer Zurich has created a new unit designed to help meet the demand from businesses for risk prevention and mitigation services. Zurich Resilience Solutions, will provide services aimed at enhancing the overall resilience of a customer’s business and complement traditional insurance products. Its offering combines risk advisory services and insights with ... Read the full article
4th March 2021
Zurich Insurance Group has announced the appointment of Sierra Signorelli to the role of Chief Executive Officer for Commercial Insurance Signorelli, who currently serves as Zurich’s Group Chief Underwriting Officer, will also become a member of the Executive Committee with immediate effect. She succeeds James Shea, who has decided to leave Zurich ... Read the full article
24th February 2021
Global re/insurer Zurich Insurance Group has further developed its Multinational Insurance Application with the launch of its new Zurich Global Program Support (GPS) Tool, designed to simplify the process of structuring international insurance programs. The new tool provides large multinational businesses with valuable information to aid in the design of international ... Read the full article
18th February 2021
Zurich Insurance Group has announced the appointment of Dirk De Nil as Chief Executive Officer (CEO) of its Nordics region operations, comprising Sweden, Norway, Denmark and Finland. De Nil will take on this role with immediate effect, while retaining his current responsibilities as CEO Benelux, therby expanding his management oversight in ... Read the full article
11th February 2021
The impacts of the COVID-19 pandemic and higher catastrophe losses pushed down Zurich's business operating profit (BOP) by 20% to $4.2 billion in 2020, while net income fell by 8% to more than $3.8 billion. For the year, Zurich has reported a COVID-19-related impact of $852 million, which includes $450 million ... Read the full article
4th February 2021
Penny Seach, currently Chief Executive Officer (CEO) of General Insurance, Zurich Hong Kong, has been appointed as Chief Underwriting Officer (CUO) of the re/insurer's Europe, Middle East and Africa (MENA) operations, effective March 1st, 2021. In her new role, Seach will be based in Zurich and will report directly to Sierra ... Read the full article
2nd February 2021
Pen Underwriting and Zurich Insurance have announced a second multi-year capacity deal for specialist fleets in the hazardous goods, tankers and environmental industries in the Republic of Ireland. The three-year agreement follows on from a similar five-year UK capacity deal to support the same sector, announced earlier this month. The new Irish ... Read the full article
8th January 2021
Multi-territory managing general agent Pen Underwriting has announced a new UK capacity deal with Zurich in the specialist area of hazardous industries and tanker transportation. The agreement will see Zurich provide capacity for in excess of £165m in premium over the next five years for Pen’s Hazardous Goods and Environmental Industries’ ... Read the full article
15th December 2020
The BBC Pension Scheme has secured a longevity swap with global insurer Zurich for more than £3 billion of pensioner liabilities. Reinsurer Canada Life was also involved in the de-risking transaction, providing cover to Zurich. The deal will give the BBC scheme and the BBC, as sponsoring employer, with protection against the ... Read the full article
11th December 2020
Life insurer MetLife has reached an agreement with Zurich, via its subsidiary Farmers Group, over the $3.94 billion sale of its US property and casualty business. This deal, initially reported in November, will see Farmers Group jointly acquire MetLife Auto & Home with the Farmers Exchanges, a group of three ... Read the full article
