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 [...]
Zurich UK Life has announced a range of new measures to enhance its protection proposition, providing business customers with a wider range of choice when it comes to cover options. Amongst the new measures is Relevant Life Policy Trust, which provides death-in-service benefits if there are too few employees to justify a group scheme, or [...]
Zurich Financial Services Group has announced the appointment of Bernard Joei to the post of head of Alternative Investments. Joei, who assumes the newly created post with immediate effect, will also become chief executive officer of Zurich Alternative Asset Management LLC, succeeding David Wasserman who is set to retire later in the year. As head [...]
Credit Suisse AG and Zurich Life Insurance Company Ltd. have formed a partnership in the area of individual life insurance for Switzerland. Under the terms of the agreement Zurich’s life insurance products will be on offer to the bank’s private clients in Switzerland from 1 October. Credit Suisse Head of Private Clients Switzerland Hanspeter Kurzmeyer [...]
Zurich Financial Services Group has announced the appointment of Bill Robertson to the position of chief life actuary. He leaves behind his present position as Aegon UK’s finance director to join Zurich, having spent a decade occupying a range of senior posts with Aegon. Earlier in his career he worked for Scottish Equitable at head [...]
Shares in Legal & General rose almost 3% yesterday, alongside reports that Zurich Financial Services could be preparing a bid. The news comes in the same week that Aviva officially rejected a £5 billion proposal from RSA to acquire its general insurance businesses in the UK, Ireland and Canada. Despite the rebuff, AXA and Resolution [...]
Zurich Financial Services Group has announced the appointment of Thomas Sepp as chief claims officer, with effect from 1 September. He joined Zurich last year as chief operating officer of Europe General Insurance, prior to which he led the UK Insurance Practice of McKinsey & Co. Sepp will replace Christian Orator, who has been appointed [...]
Zurich Financial Services Group has announced the appointment of Markus Nordlin to the post of chief information technology officer, with effect from 1 September. He joined the firm 11 years ago, leaving behind Accenture, and since 2004 has been group IT key account executive for the Farmers Insurance Group. Nordlin, who also acquires a seat [...]
Zurich Financial Services Group has announced the appointment of Christian Orator to the position of chief administrative officer. Orator will assume a seat on the Group Executive Committee when he takes up his new post, his appointment being effective from 1 September of this year. He will succeed Richard P. Kearns, who is set for [...]
Zurich UK Life has enhanced its level protection range to help clients who may need to make changes to their existing life cover when their circumstances change. Renewable and convertible options are now available, allowing customers to either renew or convert their policies at a later date, without the need for further medical evidence. The [...]
The average cost of comprehensive car insurance rose by 14.2% in the second quarter of 2010, compared with increases of 4.3% and 6.3% in the two previous quarters. According to the Confused.com/EMB Car Insurance Price Index, £74 was added to the average premium in the three months to the end of June, with an annual [...]
Zurich is reported to be talking to the Financial Services Authority over plans to relocate its European life assurance headquarters to Dublin. The group is said to be weighing up the tax benefits of such a move and according to The Independent, its operations in Swindon and Cheltenham would not be affected. In other Zurich [...]
Zurich Insurance Company Ltd has agreed to acquire 80% of PT Mayapada Life, an Indonesian life assurer focused on the distribution of group and individual life and health plans. The purchase is being made from the Mayapada Group, which operates across various sectors including financial services, healthcare, media and energy, and will continue to hold [...]
Zurich has launched a Technology and Telecommunications product in the hope of winning customers within the fast-growing technology sector. The group’s UK Professional and Financial Lines team, which specialises in cover for breaches of professional duties, says the new offering can provide tailored cover for professional indemnity risks, including cover for privacy, network security and [...]
