Mario Greco News

In Both Hard and Soft Markets, Zurich Aims to Maintain Focus on Underwriting Discipline

Zurich Insurance Group has worked hard to turn around its financial results over the past five years by bringing underwriting back to the organization, with a greater focus on selecting the right risks, pricing them accordingly, properly structuring programs and …

Zurich Insurance CEO Backs Carbon Tax and Public-Private Cyber Partnership

Zurich Insurance Chief Executive Mario Greco wants governments to levy a carbon tax and remove the incentive for socially irresponsible companies to maximize profits by polluting the environment, he told Reuters. Europe’s fifth-largest insurer has already taken steps to clean …

Changes at Zurich: New Digital Team; New CEOs for Asia Pacific, North America, Latin America

Zurich Insurance Group is launching a new unit to expand digital services platform worldwide. The company has also appointed several new chief executive officers for key regions. The new Global Business Platforms unit will be headed by current Asia Pacific …

Financial Services CEOs in Davos Complain They Can’t Save Planet Without Clients’ Help

As the financial industry comes under pressure to avoid funding dirty energy, the heads of Citigroup Inc. and Zurich Insurance Group AG said they need their clients to do more work too. “I say to our clients, ‘I don’t want …

Zurich CEO Says Big Transnational M&As Won’t Solve Industry Fragmentation: Report

The European insurance sector is too fragmented but large cross-border deals are not the solution to the problem, the head of Europe’s fifth-biggest insurer Zurich said in a newspaper interview on Thursday [Nov 28]. “I don’t believe in market consolidation …

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 Completes Acquisition of ANZ’s Life Insurance Business in Australia

Zurich Insurance Group said it has completed the acquisition of the life insurance businesses of Australia & New Zealand Banking Group Ltd. (ANZ), becoming a major life insurer for retail customers in the Australian market. The A$2.85 billion (US$2 billion) …

Zurich Insurance Reports 24% Jump in 2018 Net Income Driven by Life, P/C Units

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 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 Insurance Raises Dividend as Cost Cuts Bear Fruit

Zurich Insurance Group AG overcame a record year for natural-disaster claims in the industry to deliver its first dividend increase since 2011. The shares rose the most since August 2016. Switzerland’s biggest insurer raised its dividend for 2017 by 6 …