Reinsurance News
Zurich
Zurich’s financial position remained strong in 2020 despite pandemic challenges
30th April 2021
Global insurer Zurich Insurance Group maintained a strong financial position in 2020 in spite of the financial market volatility, elevated claims and voluntary measures to support both customers and employees linked to the outbreak of the COVID-19 pandemic. Zurich has today released its Financial Condition Report 2020, which shows a decline ... Read the full article
DAC Beachcroft appointed to Zurich’s AP large and complex claims panel
23rd April 2021
International law firm DAC Beachcroft has been appointed to Zurich’s new large and complex claims legal panel for the Asia-Pacific (APAC) region. Beachcroft considers this deal is representative of its long-standing relationship with Zurich. The appointment follows a successful proposition submitted jointly with leading Asia-Pacific insurance law firm Wotton + Kearney in ... Read the full article
Zurich adds Ping An to network of insurance providers
23rd April 2021
Zurich Insurance Group has added Ping An Health, a technology-driven health insurance company, to its Zurich Global Employee Benefits Solutions, which provides risk management and financing solutions for the global employee benefit plans of multinationals. The solutions include the group’s own offering and those of selected leading insurers in geographies and ... Read the full article
David Fike named Head of Zurich’s NA Life, Accident & Health unit
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
Zurich looks to cut property claims settlement times with new AI solution
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
MetLife completes sale of US P&C business to Zurich
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
Zurich partners with Previsico using technology for a major client
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
Zurich announces climate change targets
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
Zurich creates new Resilience Solutions services unit
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
Zurich names Sierra Signorelli as CEO for Commercial Insurance
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
Zurich looks to simplify the structuring of international insurance programs
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
Zurich appoints Dirk De Nil as CEO of Nordics
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
Zurich’s profit falls 20% on COVID-19 and catastrophes
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
Zurich names Penny Seach as CUO for EMEA
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
Pen Underwriting & Zurich agree specialist fleet deal in Ireland
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