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 Canada Names Sommer as Head of Operations

Article 0 Comments Mathias Sommer has been named head of Operations for Zurich Canada. Sommer had been leading the Operations team as vice president of Operations for Commercial Insurance Canada since September 2017. He will remain based in Toronto and report to Zurich Canada CEO Saad Mered with a reporting […]

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 Canada Announces New Organizational Structure, Leadership Team

Article 0 Comments Zurich Canada announced a new organizational structure and team, which is designed to simplify and strengthen the insurer’s go-to-market approach. “We now have the structure in place to ramp up our support for our customers and brokers in Canada, strengthening our presence in the Canadian market,” said […]

Zurich North America, Allied Public Risk Partner on Public Sector Program

Article 0 Comments Schaumburg, Illinois-based Zurich North America has entered into an agreement with program administrator Allied Public Risk LLC to provide a full range of insurance coverage to select cities, towns, boroughs, counties and special service districts with populations under 100,000. Zurich will begin writing the MuniPlus program on […]

Zurich North America Names Butt to Lead Casualty for Commercial Insurance

Article 2 Comments Valerie Butt has been named Head of Casualty for Zurich North America Commercial Insurance. Butt will lead the casualty business with responsibility for new and renewal business. Butt takes on the role that was vacated when Brandon Fick was named chief underwriting officer for Zurich North America. […]

Zurich Updates Cyber Insurance Policy, Includes More Coverages

Article 0 Comments Zurich Insurance has launched Zurich Cyber Insurance Policy with an updated form designed to help businesses protect themselves from cybersecurity risks. The new form replaces Zurich’s Security & Privacy policy and brings together coverages previously available only through endorsements. Through this policy Zurich now includes network security […]

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 […]