Zurich Insurance Group News

Zurich Insurance to Double Green Bonds to $2 Billion on European Growth

Zurich Insurance Group AG, Switzerland’s largest insurer, doubled its planned investment in green bonds, citing their growing appeal in Europe. The company said in November that it wanted to invest as much as $1 billion in debt issued by the …

Zurich Insurance to Take $300 Million Loss on Russian Unit Sale

Zurich Insurance Group AG, the largest Swiss insurer, said the sale of its Russian retail unit will lead to an estimated loss of about $300 million. The insurer said it is selling the business to Moscow-based Olma Group and intends …

Falling Reinsurance Rates by Cat Bond Competition Eroding Primary Prices: Zurich

A slide in reinsurance rates under competition from catastrophe bonds is starting to weigh on prices that companies like Zurich Insurance Group AG charge their own customers. The decline in the cost of reinsurance is “more of a problem than …

Farmers to Add More Than 500 Agency Owners in California

Farmers Insurance is looking to increase its presence in California by adding 518 agency owners throughout the state. “There has never been a better time than now for those interested in becoming agency owners to join the Farmers Family,” Stephen …

Zurich CEO Senn Says Time to Go on Offense to Attract Investors

Zurich Insurance Group AG’s CEO Martin Senn said an above-average dividend is no longer enough for investors and that now is the time to expand his business as the economy rebounds. “The world is a bit more stable,” Senn said …

Zurich Insurance $1.07 Bn Q4 Profit Misses Estimates after Restructuring

Zurich Insurance Group AG, the biggest Swiss insurer, reported fourth-quarter profit that missed analysts’ estimates after restructuring charges following a business review. Net income rose 9 percent to $1.07 billion, the company said in an e-mailed statement from Zurich today. …

Zurich Names Dickie Chief Operations and Technology Officer

Zurich Insurance Group has appointed Robert Dickie (54, British citizen) as Chief Operations and Technology Officer and a member of the Group Executive Committee (GEC), effective March 2014. He will be responsible for Zurich’s shared services, IT, procurement and sourcing …

Zurich Insurance Seeking to Increase Sales to Corporate Clients

Zurich Insurance Group AG, Switzerland’s biggest insurer, says a business unit selling insurance to corporate clients will become more important as the companies expand abroad. “Companies growing beyond their border is a trend that will last,” Thomas Huerlimann, head of …

Farmers Sues Radiological Corporations for $3 Million

Los Angeles-based Farmers Insurance Exchange filed a lawsuit in the Superior Court of California against two radiological corporations and their owners for allegedly submitting false documentation to get paid for services they didn’t provide. The civil complaint seeks restitution for unfair business …

IAG Said to Consider Bidding for Wesfarmers Insurance Unit

Insurance Australia Group Ltd., the nation’s biggest car and home insurer, is studying a bid for Wesfarmers Ltd.’s insurance unit, according to three people with knowledge of the matter. IAG is in talks with Perth-based Wesfarmers about an acquisition of …