Insurers are betting on a suite of new AI-driven techniques to better predict surging losses from climate-driven weather catastrophes ranging from unprecedented wildfires to hurricanes and floods. Less than three months into the year, natural disasters are already causing major …
Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported a 5% gain in profit for 2024. Group operating profit rose to $7.75 billion in the year, the company said …
A recent survey reveals that a 80% of New York City residents feel their city is unprepared for climate-related risks. The survey, conducted as part of new Economist Impact research supported by global multiline insurer Zurich Insurance Group, highlights significant …
Zurich Insurance Group is in talks to buy up to 51% of India’s Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing South Asian insurance …
Zurich Insurance Group reported net income attributable to shareholders of $4.6 billion in 2022, a 12% decrease from $5.2 billion in 2021, which was driven mainly by a lower level of capital gains, net losses on divestment of businesses and …
Failure to tackle climate change and environmental degradation dominate the ranking of top risks facing the planet in the next decade, a World Economic Forum (WEF) survey of global risk specialists found. Moreover, current-day challenges including the rising cost of …
Zurich Insurance Plc (ZIP), the Dublin-based wholly owned subsidiary of Zurich Insurance Group, plans to relocate to Germany as a result of the UK’s exit from the European Union. Since the Irish unit includes the insurer’s UK P&C business, Brexit …
Malaysia’s central bank is giving foreign insurers until the end of 2023 to either reduce stakes in their local ventures or contribute to a charitable fund, people with knowledge of the matter said, more than a decade after the requirement …
“If you build it, they will come.” This famous, but paraphrased, quote from the film “Field of Dreams” is apropos of the fledgling carbon removal industry. The demand is there, but supply needs to be built. The carbon removal industry …
Ditching investments in fossil fuel businesses—and denying them insurance—aren’t the only ways for the insurance industry to participate in the drive to net zero greenhouse gas emissions, according to representatives of global insurers and reinsurers. Even those companies that are …
