Zurich Insurance Group News

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 …

Zurich Insurance Lowers Profit Target; Signals Business Sale

Zurich Insurance Group AG, Switzerland’s largest insurer, lowered its profit goal as Chief Executive Officer Martin Senn signaled he’s ready to sell some businesses to bolster earnings growth. Zurich Insurance said it targets return on equity, a measure of profitability, …

Zurich Insurance Seeks $943 Million for Stake in New China Life

Zurich Insurance Group AG is selling its entire stake in New China Life Insurance Co. for $943 million, or HK$25 a share, according to the terms of the deal obtained by Bloomberg News. Switzerland’s biggest insurer is offering 292.5 million …

Zurich Insurance Says ‘Confident’ on Profitability Measure

Zurich Insurance Group AG, Switzerland’s biggest insurer [3rd largest in Europe], said it is still “confident” its non-life unit can improve a profitability target with cost cutting after it announced in August it may miss the goal relative to peers. …