Latest Zurich Headlines
All the headlines from our Zurich Topic Page, ordered by recency.
AI and APIs: Essential Tools for Zurich Insurance Group’s Digital Leap
Jul 2 2024 // Executive Summary: For a multinational insurance company like Zurich Insurance Group, which can find itself delivering large, complex policies in multiple languages to a single international customer, there’s a...
People Moves: Aon’s Mann, Trombino and Younger Join WTW Financial Institutions Team; Former Fortitude CEO Bracken Hired as Zurich NA CFO
Jun 26 2024 // WTW appointed three former Aon executives to roles within its financial institutions and professional services industry division, a part of Corporate Risk and Broking (CRB) North America. Heather Mann Heather Mann, based...
Zurich Insurance Adding 600 People in India Following Kotak Deal
Jun 25 2024 // Zurich Insurance Group AG plans to increase headcount in India by 40% over the next three years, adding 600 people following its acquisition of a majority stake in Kotak Mahindra Bank Ltd.’s general insurance...
Zurich Insurance to Sell Downtown Madrid Offices for About €100 Million
Jun 18 2024 // Zurich Insurance Group agreed to sell its iconic office building in downtown Madrid to a Spanish investment fund for about €100 million ($107 million), underscoring the robust demand for real estate in the...
People Moves: Zurich NA Names Higginbotham Head of Pro Liability & Cyber; FM Global CEO Appointed Board Chair; WTW Names Lombardo Named Chair of REHL Division
Apr 25 2024 // Zurich NA Names Higginbotham Head of Professional Liability & Cyber Kara Higginbotham Zurich North America, headquartered in Schaumburg, Illinois, has named Kara Higginbotham as head of professional liability and cyber...
Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
Apr 24 2024 // Zurich North America was ordered by a California jury to pay three former employees a total of about $80.2 million to end a wrongful termination case earlier this month. Melinda Brantley, Nicholas Lardie, and Daniel Koos...
Zurich Insurance to Halt Coverage of New Fossil-Fuel Exposures
Apr 8 2024 // Zurich Insurance Group AG will no longer underwrite new oil and gas projects, and is cracking down on clients planning to expand in metallurgical coal mining. The restrictions also entail asking the highest-emitting...
Zurich Insurance Reports Record Profit, Announces $1.25B Share Buyback
Feb 22 2024 // Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ride out the impact of a global pandemic, wars...
Zurich Insurance to Buy 51% in India’s Kotak General for $487 Million
Nov 2 2023 // Zurich Insurance Co. has agreed to buy a majority stake in Kotak Mahindra General Insurance Co. for 40.51 billion rupees ($487 million), including infusion of fresh capital. The Switzerland-based insurer will buy 51% stake...
Zurich American Off the Hook on Harvard’s Legal Costs in Affirmative Action Case
Aug 10 2023 // Even the smartest institutions in the land can miss deadlines – and can lose $15 million in insurance coverage because of it, a federal appeals court decided Wednesday. The U.S. 1st Circuit Court of Appeals upheld a...
Zurich Insurance CEO Criticizes Climate Alliances After Exodus
Aug 10 2023 // 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...
Greensill Sues Zurich Insurance for $400 Million to Recoup Losses
Aug 9 2023 // 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...
Zurich Insurance Eyes Buying $400M Stake in General Insurance Arm of India’s Kotak
Jun 14 2023 // 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...
Zurich Insurance Reports 12% Drop in Net Income to $4.6B, but Exceeds Targets
Feb 10 2023 // Zurich Insurance Group reported net income attributable to shareholders of $4.6 billion in 2022, a 12% decrease from $5.2 billion in 2021, which was driven mainly by a lower level of capital gains, net losses on divestment...
Zurich Insurance Leads Series B Fundraise for Cyber Insurtech BOXX Insurance
Feb 7 2023 // BOXX Insurance, the Toronto-headquartered insurtech that combines cyber insurance and security, announced a US$14.4 million Series B funding round, led by Zurich Insurance Co. Ltd. This latest funding round brings the...
Zurich Insurance Emerges as Front-Runner to Buy MetLife’s Malaysia Business
Dec 9 2022 // Zurich Insurance Group AG has emerged as the front-runner to buy a majority stake in the Malaysian insurance business of US insurer MetLife Inc. and Kuala Lumpur-listed AMMB Holdings Bhd., according to people with...
Zurich Insurance Plc Plans to Redomicile From Ireland to Germany in Post-Brexit Move
Nov 22 2022 // Zurich Insurance Plc (ZIP), the Dublin-based wholly owned subsidiary of Zurich Insurance Group, plans to relocate to Germany as a result of the UK’s exit from the European Union. Since the Irish unit includes the...
Tech Update: Risk Solved and expert.ai Offer Language-to-Data Solution for Insurers; Zurich Insurance Launches Global API Marketplace
Nov 10 2022 // Risk Solved and expert.ai Offer for Language-to-Data Solution for Insurers Risk Solved Ltd, a global risk management platform provider, and expert.ai, an artificial intelligence (AI) specialist in natural language...
Zurich Insurance Expects $550M Hit From Hurricane Ian, but On Track to Beat Targets
Nov 10 2022 // Zurich Insurance Group expects a net $550 million pre-tax hit from Hurricane Ian, Europe’s fifth-largest insurer said on Thursday, though it remains on track to beat its 2020-2022 financial targets, helped by premium...
Harvard, Zurich Insurance At Odds Over $15M Coverage for Admissions Program Defense
Oct 24 2022 // Harvard University has already exhausted $25 million in insurance coverage defending its affirmative action admissions program and is in court trying to force another of its insurers to cover up to $15 million more. While...
