George Quinn News

Zurich Insurance Expects to Beat Targets as It Enters Final Stretch of Turnaround

Zurich Insurance Group AG said it expects to beat all its financial targets for the 2017-2019 period as the global insurer enters the the final stretch of a three-year turnaround. “In 2016, we gave ourselves ambitious targets and we launched …

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

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 …

Zurich to Transfer German Legacy Medical Practice Portfolio to Catalina

Zurich Insurance Group announced that its subsidiary Zurich Insurance plc has entered into an agreement with Catalina Insurance Ireland DAC (Catalina) to transfer its German legacy medical malpractice book to Catalina. The portfolio concerned represents reserves of approximately US$450 million …

Zurich Reports 21% Hike in Net Income as Restructuring Program Takes Hold

Zurich Insurance says its restructuring program is on track to achieve its goals over the next few years, continuing its work on cutting expenses, stabilizing its property and casualty business and rebalancing its portfolio. The proof is in the numbers. …

Update: Zurich Returns to Profit in Q4 2016 with Net Income of $685M

Zurich Insurance Group AG fell in Zurich trading after posting a quarterly profit supported by one-time gains as Chief Executive Officer Mario Greco presses ahead with an overhaul of Switzerland’s largest insurer. Net income for the three months through December …

Zurich’s Re-Underwriting Program Begins to Bear Fruit – in Its Financials

Zurich Insurance Group’s re-underwriting program is starting to bear fruit – as evidenced by the company’s improved third-quarter results – but Group CFO George Quinn readily admits there is still work to be done. The steps that the company took …

Zurich Restructure on Track, but Organization Still too Complex: CEO Greco

While Zurich Insurance Group’s new chief executive officer believes the insurer is on the right track in terms of growth and profit, the organizational structure remains too complicated, he suggested during an investor conference yesterday. “Zurich is world famous for …

Zurich’s Q1 Net Income Down 28% to $875M, Beating Analysts’ Expectations

Zurich Insurance Group AG, Switzerland’s biggest insurer, posted a first-quarter profit that beat analysts’ expectations as Chief Executive Officer Mario Greco continues the overhaul of its biggest unit. Net income fell 28 percent to $875 million from $1.22 billion a …

Zurich Names Generali’s Greco as CEO, with Task of Driving Turnaround

Zurich Insurance Group AG hired Assicurazioni Generali SpA’s Mario Greco as chief executive officer, giving him the task of turning around the company, after losses in its general insurance business forced the Swiss insurer to abandon a takeover bid. Greco, …

Zurich Prefers Using $3B in Excess Capital on Purchases, Not Shareholder Payouts

Zurich Insurance Group AG would rather invest the company’s $3 billion in excess capital on acquisitions than return the cash directly to shareholders, Chief Financial Officer George Quinn said in an interview on Thursday. “Obviously we would like to invest …