Zurich Financial Services Group has announced the appointment of Antônio Cássio dos Santos to the newly created post of chief executive officer of LatAm General Insurance. Santos, whose appointment is effective from 1 May, will succeed Peter Rebrin, who becomes head of Bank Distribution LatAm General Insurance. In his new role Santos will be tasked [...]
Zurich Financial Services Group has announced that Paul N. Hopkins is to retire from the firm. Hopkins is a veteran of the firm, and has worked there for over 33 years. He presently occupies a seat on the Group Executive Committee (GEC), is chairman of of the Board of Farmers Group, Inc. and regional chairman [...]
Zurich has announced that its employee benefits network will in future be working with AIA in the Asian employee benefits market. The cooperation should benefit multinational companies with operations throughout Asia, improving their access to comprehensive employee benefit programmes. Commenting on the deal, Zurich Employee Benefits Network (ZEBN) head, Theo Lutgendorff, says: “Asia is a [...]
Zurich Financial Services Group has announced the appointment of Thomas Huerlimann to the post of chief executive officer of Global Corporate. Huerlimann, who is presently chief executive officer of Global Corporate in Europe, assumes his new post with immediate effect. He joined the firm eight years ago as global head of Group Reinsurance, and two [...]
Zurich Financial Services Group has announced that it has reduced its stake in New China Life Insurance from 20% to 15%. The 5% was sold to undisclosed buyers, with the sale price moderately exceeding the respective book value at year-end, and Zurich is to retain its 15% stake in New China Life Insurance (NCI). NCI’s [...]
Zurich has announced that it will be collaborating with innovative Swiss car manufacturer, Rinspeed, on initiatives to develop a better understanding of how people will drive in the future and how this will change insurance needs. The insurer is also involved in the development of “BamBoo”, a community platform that aims to help users carpool [...]
Zurich Financial Services Group has announced that it has signed a Memorandum of Understanding with Spanish banking giant Banco Santander by which the two firms have entered into a 25 year strategic distribution arrangement in Latin America. Under the terms of the deal Zurich acquires a 51% stake in Santander’s life insurance, pension and general [...]
Zurich Financial Services Group has announced the appointment of Peter Wright to the position of Group Head of Human Resources. Wright, whose appointment is effective from 21 February, replaces Peter Goerke who parted ways with Zurich in January of this year. He assumes responsibility for Zurich’s global HR function, is to be based in Zurich [...]
Ireland’s “Sunday Tribune” has named Zurich as the insurer most likely to acquire the failed Quinn Insurance. Quinn was placed in administration in March 2010, the Irish Financial Regulator having raised concerns about the group’s finances, given that its subsidiaries had made guarantees reducing the value of the company’s assets by €448 million. A joint [...]
Seven insurance companies and two IT software and service providers have provisionally agreed to limit the data they exchange, following competition law concerns raised by the Office of Fair Trading (OFT). Ageas, Aviva, AXA Insurance UK, Liverpool Victoria Friendly Society, RBS Insurance, RSA and Zurich, plus IT firms Experian and SSP, have all offered formal [...]
Zurich’s Turkish subsidiary, Zurich Sigorta A.S., has signed an agreement with Fortis Bank for the exclusive distribution of general insurance products through Fortis in Turkey. The move is in anticipation of the planned merger between Fortis and TEB Bank, Zurich Sigorta’s existing partner, and the agreement should promote Zurich Sigorta from eighth, to third-largest general [...]
Zurich has announced that subsidiary Zurich Insurance Company Ltd has completed the acquisition of 99.99% of Compagnie Libanaise D’Assurances SAL, a privately-owned Lebanese insurer with branch operations in the United Arab Emirates, Kuwait and Oman. The group describes the transaction as a “milestone”, allowing it to provide market-leading products to personal and commercial customers in [...]
Based in London she will lead the onshore property team in the UK. She will report jointly to Mark Platten, Chief Underwriting Officer, Global Corporate UK and Tom White, Regional Head of Global Energy, Europe. Hala joins Zurich from Liberty Mutual where she worked as Assistant Vice President in its UK Energy Team and operated [...]
Zurich has announced that it has entered into a definitive agreement to sell back to Unnim its 50% stakes in the Spanish life and general bancassurance companies jointly owned with Unnim. The agreement follows the merger of Caixa Sabadell together with Caixa Terrassa and Caixa Manlleu to form Caixa d’Estalvis Unió de Caixes de Manlleu, [...]
Companies are now able to make use of new technology that can reduce the costs of crashes in their motor fleets by up to 30%. According to research from Zurich, telematics technology (alongside driver development) can help fleet operators improve safety, soften their impact on the environment and reduce operational costs. The technology provides extensive [...]
Zurich Financial Services has announced that its subsidiary, Zurich Insurance Company Ltd, has completed the acquisition of 80% of PT Mayapada Life from the Mayapada Group, which will continue to hold 20% of the company. Headquartered in Jakarta, PT Mayapada Life recorded gross written premium of $1.7 million in 2009, having operated mainly through tied [...]
Zurich Financial Services has announced a number of key appointments within its general insurance (GI) business. The firm says the changes are related to an ongoing review of its GI business, which form part of a daunting-sounding initiative to “clarify accountability, focus on responsibility and reduce complexity”, group-wide. Further information on the new GI structure [...]
Zurich Financial Services Group has announced that John Amore is to retire from the firm, after 18 years of dedicated service to the firm, its clients and shareholders. He first joined Zurich North America in 1992, and for the last nine years has held a seat on the Group Executive Committee. Amore will step down [...]
Zurich has agreed to acquire 99.98% of Compagnie Libanaise D’Assurances SAL, a privately-owned Lebanese insurer with branch operations in the United Arab Emirates (UAE), Kuwait and Oman. Established in 1951 and headquartered in Beirut, the firm provides general insurance solutions to retail and commercial customers in the UAE, Kuwait, Oman and Lebanon, plus individual and [...]
