Latest Zurich Headlines
All the headlines from our Zurich Topic Page, ordered by recency.
Zurich North America Moving into New LEED Platinum Headquarters
Oct 3 2016 // Zurich North America’s new headquarters building in Schaumburg, Ill., has been completed as an LEED Platinum building as certified by the U.S. Green Building Council (USGBC). The 783,800 square foot building will be...
Zurich Insurance (Hong Kong) Appoints Chiu as Head of Global Corporate Division
Aug 19 2016 // Zurich Insurance (Hong Kong) has appointed Philip Chiu as the head of its Global Corporate Division, in a move from his previous position as Zurich’s head of Financial Lines in Asia. He will directly report to Keith...
Zurich Insurance Q2 Net Income Declines 12% on Restructuring, Nat Cats
Aug 11 2016 // Zurich Insurance Group AG said second-quarter profit fell 12 percent on higher restructuring charges and claims from natural catastrophes as Chief Executive Officer Mario Greco overhauls the company’s biggest...
Zurich Buys MAA Takaful Berhad, Expanding in Malaysia Takaful Market
Jun 30 2016 // Zurich Insurance Co. Ltd., a subsidiary of Zurich Insurance Group, has completed the acquisition of MAA Takaful Berhad (MAAT), a leading provider of Takaful products in Malaysia, from MAA Group Berhad and Solidarity Group...
Senn, Ex-CEO of Zurich Insurance, Commits Suicide
May 30 2016 // Former Zurich Insurance boss Martin Senn has committed suicide six months after leaving the company under a cloud, a tragedy that comes less than three years after Zurich’s finance chief took his own life. Senn, 59,...
Zurich Insurance’s Ex-CEO Senn Received Remuneration of $6.3M in 2015
Mar 4 2016 // Zurich Insurance paid Martin Senn, its former CEO, 6.1 million Swiss francs ($6.3 million) during 2015, down from 7.2 million Swiss francs ($7.9 million) in 2014, the company reported. (The Swiss franc to U.S. dollar...
Zurich Insurance Appoints Marguin as Chief Underwriting Officer, Asia Pacific
Mar 1 2016 // Zurich Insurance has appointed Hervé Marguin as chief underwriting officer (CUO), General Insurance, Asia Pacific, effective immediately. Marguin will report to Stuart A. Spencer, chief executive officer, General...
Update: Zurich Insurance Weighs Sale of Hong Kong & Singapore Units
Feb 24 2016 // Zurich Insurance is exploring a sale of its Hong Kong and Singapore operations as it reviews its non-core businesses outside Europe, sources familiar with the matter said. The Swiss insurer has discussed the plan with...
Zurich Insurance Plans to Sell South Africa & Morocco Units: Sources
Feb 19 2016 // Zurich Insurance Group AG has started a process to sell its units in South Africa and Morocco as it works toward turning around its money-losing insurance operations, according to people familiar with the matter. Zurich is...
Generali Names Galateri as Interim CEO After Greco Departs for Zurich Insurance
Feb 9 2016 // Assicurazioni Generali SpA appointed its Chairman Gabriele Galateri, as acting chief executive officer after CEO Mario Greco decided to quit Italy’s biggest insurer to become the head of Zurich Insurance Group...
Update: Zurich Insurance Group Expects Q4 2015 Loss in General Insurance
Jan 20 2016 // Zurich Insurance Group AG fell to the lowest in more than three years after Switzerland’s biggest insurer put shareholders on notice that it expects a second straight quarterly loss in its general insurance...
Zurich Insurance to Appoint Generali’s Greco as CEO: Swiss Newspaper
Jan 11 2016 // Zurich Insurance Group AG will appoint Mario Greco, the head of its Italian rival Assicurazioni Generali SpA, as chief executive officer, Swiss newspaper SonntagsZeitung reported, without saying how it got the...
Zurich North America Forms Captive Insurance Company in Vermont
Dec 23 2015 // Zurich North America has selected Vermont as the domicile for a new sponsored cell captive company, according to the Vermont Department of Financial Regulation. The captive, Hoplite Reinsurance Company of Vermont, is...
Zurich Insurance to Buy Wells Fargo Crop Insurance Unit
Dec 18 2015 // Zurich Insurance Group AG agreed to buy a Wells Fargo & Co. crop insurance business for as much as $1.05 billion as the Swiss company puts to work excess cash left over from a separate takeover bid that it abandoned...
Zurich Insurance Increases Job Cuts, Relocations by 1,800
Dec 3 2015 // Zurich Insurance Group AG, Switzerland’s biggest insurer, is increasing job cuts and relocations to a total of at least 1,800 at the company reduces costs and overhauls its biggest unit. The company will move 300...
Zurich Insurance Plans to Exit P&C Business in Middle East After Strategic Review
Nov 30 2015 // Zurich Insurance Group Plc said it will stop writing general insurance business in the Middle East at the end of month because of the “limited potential” for profitable growth. The decision to exit general...
Zurich Insurance Plans to Replace CEO Senn, Reports Swiss Magazine
Nov 12 2015 // Zurich Insurance Group AG is seeking to replace Chief Executive Officer Martin Senn after third-quarter losses forced it to abandon its bid for Britain’s RSA Insurance Group Plc, according to a Swiss business...
Zurich Insurance Q3 Profit Falls 79% on Losses from Tianjin Port Explosions
Nov 5 2015 // Zurich Insurance Group AG said profit fell 79 percent in the third quarter after it booked $275 million in losses from the Tianjin disaster and set aside $367 million more in reserves to cover mainly North American auto...
A.M. Best Affirms Zurich Insurance Ratings; Outlook Negative on Expected Losses
Oct 5 2015 // A.M. Besthas affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” while at the same time revising the outlook to negative from stable forZurich Insurance Company...
Workers’ Compensation Premiums Up 5.3% in First Half of 2015: Demotech
Sep 25 2015 // Workers’ compensation insurers reported a 5.3 percent increase in direct written premiums during the first six months of 2015 versus the same period in 2014, according to actuarial firm Demotech’s review of...
