Reinsurance News


Enstar to reinsure $500m US asbestos portfolio for Zurich

17th April 2019

A subsidiary of Bermuda-based re/insurance, run-off and legacy transaction specialist Enstar Group Limited has signed an agreement with a subsidiary of global insurer Zurich that will see it reinsure a book of US asbestos and environmental liability insurance portfolios. Roughly $500 million of gross insurance reserves related to 1986 and prior ... Read the full article

Zurich Canada secures Aon’s Marco Royer as Head of Liability

12th April 2019

The Canadian operations of global insurer Zurich has announced the appointment of Marco Royer as Head of Liability, effective July 1. Royer joins from Aon after a 12 year stretch at the firm, most recently serving as the Head of its Canadian reinsurance broking team. He has a strong technical casualty underwriting ... Read the full article

Zurich partners with riskmethods on supply chain risk and management services

7th March 2019

Zurich Insurance Group has announced a new strategic partnership with supply chain risk management firm, riskmethods GmbH, to provide the insurer's commercial clients with new supply chain and risk management services. Zurich states that its risk engineering and insurance expertise, combined with riskmethods' unique artificial intelligence (AI) driven technology will enable ... Read the full article

Zurich bought more, tweaked reinsurance protection: CFO Quinn

12th February 2019

The Chief Financial Officer (CFO) of global insurer Zurich, George Quinn, recently discussed the firm's increased reinsurance purchase as it continues to tweak its protection in light of attractive pricing. Speaking during the insurer's Q4 2018 earnings call, CFO Quinn highlighted the firm's increased utilisation of reinsurance, especially around the casualty ... Read the full article

Zurich on track for 2019 as P&C underwriting performance improves

7th February 2019

Global insurer Zurich saw its business operating profit (BOP) increase by 20% in 2018, helped by improved underwriting performance in its property & casualty (P&C) business despite the challenging market landscape. At $4.6 billion, Zurich's BOP for the full-year 2018 increased 20% year-on-year, while the firm's net income, after-tax and attributable ... Read the full article

Drazen Jaksic joins Zurich as Head of A&H Underwriting, Commercial Insurance

31st January 2019

Global insurer Zurich has named Drazen Jaksic as its new Head of Accident & Health (A&H) Underwriting within its Commercial Insurance division. Based in London, Jaksic will assist the company its push to improve consistency and growth across the world in Zurich's international A&H portfolio. He joins Zurich from insurer Chubb, where ... Read the full article

Zurich CEO optimistic about P&C rates in 2019

25th January 2019

Mario Greco, Chief Executive Officer of Zurich Insurance Group, has said that the company is optimistic about the prospects for property and casualty (P&C) re/insurance pricing in 2019. Speaking in an interview with CNBC at the World Economic Forum 2019 event in Davos, Switzerland this week, Greco said that market conditions ... Read the full article

Zurich announces $2bn legacy portfolio transfer to Catalina

17th December 2018

Zurich Insurance, a subsidiary of Zurich Insurance Group, has entered into an agreement with Catalina Holdings that will see the majority of Zurich’s UK employers’ liability (UK EL) policies for 2006 and prior underwriting years transferred to Catalina. This major portfolio transfer represents a significant step forward in Zurich’s efforts to ... Read the full article

Zurich partners with claims insurtech Snapsheet

28th November 2018

Zurich Insurance Group is partnering with Snapsheet, a provider of virtual claims technology, as it looks to streamline its customer experience and drive new and innovative tech implementations. Snapsheet’s software as a service (SaaS) platform allows intake of information from various customer channels including e-mail, text, or a web and mobile ... Read the full article

Zurich CEO Greco denies acquisition rumours

26th November 2018

Mario Greco, Chief Executive Officer (CEO) of Zurich Insurance Group, has denied rumours that the company would consider a takeover bid from another large re/insurer or tech firm, according to Finews. Speaking at a recent conference event hosted by Handelsblatt in Munich, Greco reportedly said that a cross-border, transforming transaction would ... Read the full article

Zurich expects rates momentum to slow into 2019, says CFO Quinn

14th November 2018

Zurich Insurance Group continues to achieve rate increases across its property and casualty (P&C) lines, but it expects pricing momentum to slow down as it moves into 2019, according to Chief Financial Officer George Quinn. Speaking during a third quarter earnings call, Quinn explained that the overall rate changes experienced over ... Read the full article

Zurich anticipates $175mn Hurricane Michael loss

8th November 2018

Zurich Insurance Group has released its results for the first nine months of 2018, in which it estimates that losses related to Hurricane Michael in the fourth quarter are likely to be around US $175 million. Category 4 Michael made landfall in the Florida Panhandle on October 10th as the strongest ... Read the full article

GDPR & cyber concerns hindering UK SME’s Brexit planning: Zurich

28th September 2018

Complex Issues such as GDPR compliance plus concerns surrounding cyber security may be causing the UK’s small medium-sized business to overlook the importance of planning for Brexit, finds broker survey conducted by Zurich. 24% of respondents said that their SME clients now ask them about GDPR on a regular basis. However, regular ... Read the full article

Zurich to acquire Indonesia’s Adira Insurance for $414m

27th September 2018

Zurich Insurance Group has announced an agreement to acquire 80% of Indonesian property and casualty insurer PT Asuransi Adira Dinamika from PT Bank Danamon Indonesia and a minority investor for $414 million (IDR 6.15 trillion), a deal that will make Zurich the largest foreign P&C insurer in the country. The transaction ... Read the full article

Zurich urges businesses to prepare for climate change

25th September 2018

Zurich Insurance Group has called on businesses to act now and prepare for climate change, as internationally-agreed targets for lower greenhouse emissions look set to miss their mark. The new report from Zurich outlines three steps it believes will help companies develop a climate resilience adaptation strategy. These steps include identifying the ... Read the full article

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