Zurich Insurance News

Zurich to Acquire 80% Stake in Indonesia’s Adira Insurance for About $414M

Zurich Insurance is acquiring an 80 percent stake in Indonesia’s Adira Insurance from PT Bank Danamon Indonesia and a minority investor for at least around $414 million, the Swiss group said on Thursday. “Zurich has earmarked Asia Pacific to be …

Zurich Insurance Begins Competition to Find Cutting-Edge InsurTech Startups

Zurich Insurance Group believes a competition will help it find cutting-edge startups and entrepreneurs with whom to collaborate in the insurtech space. The Swiss insurer launched what it is calling the Zurich Innovation World Championship, billing it as a global …

Zurich Canada Promotes Mered to CEO

Zurich Insurance announced the appointment of Saad Mered to CEO and chief agent of Zurich Canada, effective Oct. 1, 2018. Mered is currently chief claims officer for Zurich Insurance Group. In his new role, Mered will report to Zurich North …

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’s Flood Resilience Alliance Extended to Generate Additional Funding of $1B

Zurich Insurance Group announced that after five successful years its flood resilience alliance will be extended until 2023. In the last five years, a multi-sector alliance comprising the non-governmental organization (NGO) sector, academia and Zurich’s risk management experts has focused …

Swiss Re No Longer Offers Re/Insurance to Firms with More Than 30% Coal Exposure

Swiss Re announced it no longer is providing re/insurance to businesses with more than 30 percent exposure to thermal coal across all lines of business. The thermal coal policy applies to both existing and new thermal coal mines and power …

Lessons Learned From Hurricane Harvey Highlighted in Zurich Report

An inconsistent regulatory environment and a lack of awareness by residents of the potential flooding dangers in and around Houston were among the factors that contributed to the heavy damage inflicted by Hurricane Harvey, according to a report released on …

Allianz’ CEO Seeks Big M&A – But He Doesn’t Want to Pay for It: Opinion

The CEO of Europe’s biggest insurer is up for a big deal. He just doesn’t want Allianz SE to pay for it. Oliver Baete is going to find it hard to have his cake and eat it. Three years into …

Allianz Eyes M&A Targets Zurich, Hartford, QBE, Argo and More After Missing Out on XL

A $94 billion financial behemoth is keeping the market on tenterhooks about its next move. Europe’s largest insurer, Allianz SE, is in the early stages of evaluating a variety of potential acquisition targets as deal-hungry Chief Executive Officer Oliver Baete …

Zurich Insurance Buys Minority Stake in InsurTech Startup CoverWallet

Zurich Insurance Group has acquired a minority stake in CoverWallet, a digital business insurance agency startup. CoverWallet, which launched in 2016, said the investment builds on commercial partnership between the two companies, which was announced in February. Financial details of …