Zurich News

Canada Reports 20-Year High in Overseas Investment in Insurance M&A

Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021. …

Zurich and Farmers Agree to Buy MetLife’s U.S. P/C Business for $3.94 Billion

Zurich Insurance and Farmers Exchanges have agreed to buy MetLife’s U.S. property and casualty business for $3.94 billion, the insurers said on Friday, after the COVID-19 pandemic made motor and home insurers more profitable. Motor and home insurers have had …

Insurers Ink $90 Billion in Merger Deals as They Pursue Post-Coronavirus Clout

Insurers pummeled by the pandemic are looking to deals as they race to see who’ll emerge strongest when the outbreak subsides. The takeover of RSA Insurance Group Plc and Allstate Corp.’s largest acquisition ever have helped push industry deals announced …

Zurich Insurance in Talks to Acquire MetLife Unit for $4 Billion

Switzerland’s Zurich Insurance Group AG is in advanced talks to acquire MetLife Inc.’s U.S. property and casualty (P&C) car and home insurance unit for close to $4 billion, according to people familiar with the matter. Zurich Insurance issued a statement …

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 …

Zurich Partners with Insurtech Vindati on Motor Truck Cargo Program

Zurich and insurtech managing general underwriter Vindati have launched a new stand-alone Motor Truck Cargo (MTC) program now available to for hire common and contract truckers. Written through an exclusive agreement between Zurich and Vindati, the coverage insures against the …

Vertus to Offer Hurricane Deductible Buy-Back Insurance in Texas

Vertus Insurance Partners, a Florida-based managing general agent and provider of specialized catastrophic risk protection insurance products is entering the Texas marketplace with its homeowners’ hurricane deductible reimbursement products. The company said its Cat4Home product provides Texas homeowners supplemental homeowner …

Are Employees Pushing Insurers to Shun Coal in Climate Change Movement?

Seventeen insurers have restricted insurance services to coal projects in the past two years. A dozen insurers have adopted policies to stop all direct insurance coverage to new coal projects – among them are Allianz, AXA, Generali, QBE, Zurich, SCOR …

Zurich, Vertus Launch Hurricane Deductible Buy-Back Program in Florida

Zurich has launched Cat4Home, a new hurricane deductible buy-back program through Vertus Insurance Partners. Cat4Home is a supplemental insurance policy available to residential homeowners in Florida and covers 100% of the hurricane deductible, generally seen as 1% to 5% of …

The IPCC Climate Change Report and Implications for Insurers

A report out earlier this week from the Intergovernmental Panel on Climate Change doesn’t say a whole lot about insurance, but the implications for the industry are hard to ignore. Chief among those implications is the possibility that society will …