Reinsurance News
Zurich
Zurich is one of the largest insurance companies in the world. Headquartered in Switzerland, Zurich Insurance provides a wide range of specialist commercial insurance products and is a meaningful buyer of reinsurance protection.
Zurich’s P&C business sees insurance revenue & GWP rise 5% in Q1’25
8th May 2025
Zurich has reported that insurance revenue and gross written premiums (GWP) in its Property & Casualty (P&C) segment rose by 5% each in Q1 2025, reaching $10.8 billion and $13.3 billion, respectively. According to Zurich, the Q1 2025 growth was supported by higher premium rates of 4% in P&C, which was ... Read the full article
Chubb, Zurich, and National Indemnity launch new excess casualty facility
2nd May 2025
Chubb, Zurich North America and National Indemnity have launched a new excess casualty facility that can offer up to $100 million in lead excess casualty insurance capacity on a claims-made basis for large national and multinational companies. According to a joint statement, the facility will provide excess umbrella liability coverage underwritten ... Read the full article
Premiums set to rise unless governments act on climate risk, says Zurich
29th April 2025
With the costs from extreme weather and natural catastrophes rising, Zurich Insurance has released a report highlighting the urgent need for action from governments, insurers, and communities to collaboratively build climate resilience. According to the firm's report, the past decade has seen $2 trillion in economic losses due to extreme weather ... Read the full article
Zurich invests in M&A specialist Icen Risk
1st April 2025
Global multi-line insurer Zurich Insurance Group has strategically invested in Icen Risk (Icen), a specialist M&A insurer which offers bespoke coverage for Warranty & Indemnity, Tax, IP, and Environmental risks in European mid-market M&A transactions. The transaction, which is subject to regulatory approval and expected to close in Q3 2025, will ... Read the full article
Zurich APAC’s P&C gross premiums reach $3.96bn in 2024
20th February 2025
Zurich's Asia Pacific business has delivered an overall operating profit of $586m for 2024, up 6% from 2023. Broken down, Zurich’s Asia Pacific P&C business saw operating profit grow 21% in 2024 to $343 million, while gross written premiums in this segment increased by 12%. According to the firm, this was ... Read the full article
Zurich sees record operating profit in 2024 as P&C CoR improves to 94.2%
20th February 2025
Zurich has reported a record business operating profit for 2024 of $7.8 billion, while its P&C business continued to improve by focusing on underwriting discipline, with a combined ratio of 94.2%. Operating profit in the P&C business alone was 4.2 billion million in 2024, up 8% compared to 2023. Meanwhile, gross written ... Read the full article
Zurich names Burford as Global Head of Financial Lines, Cyber, & Credit Lines Claims
21st January 2025
Zurich Insurance has announced the appointment of Debra Burford as Global Head of Financial Lines, Cyber, and Credit Lines Claims. In her new role, Burford will join the Global Large & Complex Claims team, focusing on driving excellence in Financial Lines Claims worldwide. She will collaborate with Claims and Underwriting teams ... Read the full article
Re/insurance pricing could firm after unexpected wildfire losses: Berenberg
15th January 2025
The severity of the ongoing California wildfires is expected to drive insurance industry losses of more than $20 billion, with some estimates even hitting or exceeding the $40 billion mark, which analysts at investment bank Berenberg believe could cause pricing to firm. In a recent note, Berenberg analysts focus on re/insurers ... Read the full article
iprism signs multi-year capacity deal with Zurich
7th January 2025
iprism, a Managing General Agent (MGA), has announced a new multi-year capacity deal with global insurer Zurich. Under the deal, Zurich will provide Property and Casualty capacity for iprism’s Property Owners and Commercial Combined products, expected to generate up to £30 million in gross written premium. This agreement expands the existing partnership, ... Read the full article
RiverStone & Zurich sign loss portfolio transfer deal
23rd December 2024
RiverStone International has entered into an agreement with the French division of Zurich Insurance Europe and Zurich Insurance Company to deliver a loss portfolio transfer reinsurance (LPT) and facilitate an insurance business transfer involving the French discontinued motor and architects & engineers (A&E) professional indemnity portfolios. According to RiverStone, these transactions ... Read the full article
Airways Pension Scheme completes £340m longevity swap with MetLife
19th December 2024
The Trustees of the Airways Pension Scheme have completed a £340 million longevity swap transaction with Metropolitan Tower Life Insurance Company, a subsidiary of MetLife, and Zurich UK. This arrangement aims to help to mitigate the financial risks associated with increasing lifespans, as well as to enhance the long-term security for ... Read the full article
Economic risks, weather & talent shortage among top concerns for APAC businesses: Marsh, Zurich
16th December 2024
Economic headwinds and escalating climate risks are the most pressing concerns for businesses across the Asia Pacific (APAC) region, a new survey conducted by the World Economic Forum, and released in partnership with Marsh McLennan and Zurich Insurance Group, has revealed. According to the Executive Opinion Survey business leaders are increasingly ... Read the full article
Drazen Jaksic named new CEO Zurich UK
12th December 2024
The UK arm of global insurer Zurich has announced the appointment of Drazen Jaksic as CEO of Zurich UK, succeeding Tim Bailey, who has served as CEO, Zurich UK since January 1, 2021. Alison Martin, CEO EMEA & Bank Distribution, said, “We are delighted to have a leader of Drazen’s calibre ... Read the full article
Constellation’s Chilean subsidiary acquires $2.1 bn annuity portfolio from Zurich
5th December 2024
Constellation's Latin American subsidiary, Ohio National Seguros de Vida – Chile, has acquired Zurich Insurance Group's $2.1 billion annuity portfolio in Chile. Through this strategic move, previously announced in May 2023, Ohio National Seguros de Vida – Chile significantly bolstered its pensions portfolio and assets under management, reaching an impressive ... Read the full article
AIG completes sale of personal travel insurance & assistance business to Zurich
3rd December 2024
Global insurer American International Group, Inc. (AIG) has successfully closed the previously announced sale of its global individual personal travel insurance and assistance business, including Travel Guard, to Zurich Insurance Group. It was previously revealed that AIG agreed to sell Zurich these operations for $600 million in cash, with an ... Read the full article
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