Zurich Insurance Reports 24% Jump in 2018 Net Income Driven by Life, P/C Units

Article 0 Comments Zurich Insurance’s reported 2018 net income after tax of $3.72 billion, a 24 percent jump from $3.0 billion it reported in 2017 – primarily driven by growth in its life business and improved underwriting in its property and casualty business. Zurich’s results “demonstrate further progress against the […]

Artificial Intelligence Startups Win Zurich’s 1st Global Insurtech Competition

Article 0 Comments Zurich Insurance Group announced that the gold and silver winners for its first global insurtech competition were startups that have developed artificial intelligence-based solutions. Toronto-based Chisel AI was the gold winner for its work in improving the processing of unstructured data sources using AI technology. Oakland, Calif.-based […]

Zurich Policyholder Dispute Highlights Danger of Calling Out Cyber Attackers: Opinion

Article 0 Comments The $100 million lawsuit that Mondelez, the maker of Oreos and Cadbury chocolate, has brought against Zurich Insurance Group shows that governments should be more careful about identifying the would-be culprits in putative cyber-wars: Such claims can have unintended consequences, and can sometimes harm businesses. In June […]

Zurich to Shift $2B of UK Legacy Employers’ Liability Policies to Catalina

Article 0 Comments Zurich Insurance plc has entered into an agreement with Catalina, a specialist acquirer of legacy insurance portfolios, to transfer its pre-2007 UK legacy employers’ liability policies to Catalina. As of December 31, 2017, the portfolio comprised gross liabilities of USD$2 billion relating principally to industrial disease related […]

Zurich Insurance Reports 2% Hike in 9-Month P/C Premiums, Confirms Targets

Article 0 Comments Zurich Insurance posted a 2 percent rise in nine-month property and casualty premiums and confirmed its financial targets on Thursday despite a hit from larger-than-expected natural catastrophe losses. “We are pleased with the development of our businesses over the first nine months of the year and are […]

Zurich to Acquire 80% Stake in Indonesia’s Adira Insurance for About $414M

Article 0 Comments Zurich Insurance is acquiring an 80 percent stake in Indonesia’s Adira Insurance from PT Bank Danamon Indonesia and a minority investor for at least around $414 million, the Swiss group said on Thursday. “Zurich has earmarked Asia Pacific to be a major engine of growth for the […]

Zurich Insurance Begins Competition to Find Cutting-Edge InsurTech Startups

Article 0 Comments Zurich Insurance Group believes a competition will help it find cutting-edge startups and entrepreneurs with whom to collaborate in the insurtech space. The Swiss insurer launched what it is calling the Zurich Innovation World Championship, billing it as a global competition where the winners gain the chance […]

Zurich Canada Promotes Mered to CEO

Article 0 Comments Zurich Insurance announced the appointment of Saad Mered to CEO and chief agent of Zurich Canada, effective Oct. 1, 2018. Mered is currently chief claims officer for Zurich Insurance Group. In his new role, Mered will report to Zurich North America CEO Kathleen Savio. Mered joined Zurich […]

Zurich’s H1 Net Income Rises 19%, Getting Boost from P/C Unit

Article 0 Comments Zurich Insurance Group AG got a boost from its property & casualty business, putting the company on track to meet Chief Executive Officer Mario Greco’s three-year restructuring goals. The Swiss insurer’s biggest unit saw higher profit and posted a lower combined ratio, a key metric for insurers. […]

Zurich’s Flood Resilience Alliance Extended to Generate Additional Funding of $1B

Article 0 Comments Zurich Insurance Group announced that after five successful years its flood resilience alliance will be extended until 2023. In the last five years, a multi-sector alliance comprising the non-governmental organization (NGO) sector, academia and Zurich’s risk management experts has focused on shifting from the traditional emphasis on […]