Zurich Insurance News

European Insurers Underwrite 30% of US Coal: Study

Some of Europe’s biggest insurers are underwriting close to a third of the coal production that takes place in the US, even after pledging to target net zero emissions, according to a report by climate campaign group Insure Our Future. …

Zurich and KPMG Collaborate to Provide Climate Change Advisory Services

Zurich Resilience Solutions, the commercial risk advisory and services unit of Zurich Insurance Group (Zurich), and the professional services firm KPMG have formed a strategic collaboration to offer advisory services to address physical and transition risks, respectively, associated with climate …

People Moves: De Nil Named Global Head of Zurich Resilience Solutions; Miller Taps Aon’s Castanier to Develop European Leasing Practice

This edition of International People Moves details appointments at Zurich Insurance and the broker Miller. A summary of these new hires follows here. De Nil Named Global Head of Zurich Resilience Solutions Zurich Insurance Group has appointed Dirk De Nil, …

Zurich Insurance CEO Criticizes Climate Alliances After Exodus

The chief executive officer of Zurich Insurance Group AG has spoken out against the network of voluntary climate alliances that represent some of the biggest names in global finance, calling them “political and bureaucratic.” Mario Greco, who led his firm …

Greensill Sues Zurich Insurance for $400 Million to Recoup Losses

Greensill Bank AG’s administrators are seeking more than $400 million from Zurich Insurance Plc in London lawsuits to recoup the defunct lender’s losses on controversial investments linked to Credit Suisse and Liberty Commodities Ltd.. The administrators want Zurich to make …

Chubb Seeks 49% of India’s Kotak General Insurance, Has Edge Over Zurich: Sources

U.S. insurer Chubb is in talks to acquire a 49% stake in India’s Kotak General Insurance and has become a more favored suitor than Zurich Insurance Group, two people with direct knowledge of the discussions said. Chubb has an edge …

London Is Falling Down — Because of Climate Change

Britain’s increasingly extreme weather is shaking the very foundations of its centuries-old history. The nation has been experiencing prolonged periods of drought after wet winters since last year. That’s causing the porous rock beneath vast parts of southeast of England, …

Insurers Look to Loosen UN Climate Alliance Rules After Member Exodus: Sources

The remaining insurers in a United Nations-backed coalition aimed at tackling climate change are poised to loosen the alliance’s membership requirements, after a recent exodus of members, according to two people familiar with the discussions. The U.N.-convened Net-Zero Insurance Alliance …

Zurich Insurance Eyes Buying $400M Stake in General Insurance Arm of India’s Kotak

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 …

ANALYSIS – Breakup of Insurers’ Climate Coalition Driven by U.S. Regulation Fears

The success of Republicans in triggering the breakup of a coalition of insurance firms aimed at tackling climate change is down to U.S. states being the industry’s primary regulator, interviews with industry executives and former officials show. The U.N.-backed Net-Zero …