Citigroup Inc. was fined 500,000 Swiss francs ($568,000) by Switzerland’s stock exchange regulator for failures after a London staffer’s fat-finger trade caused a flash crash in European stocks in 2022. The total value of the erroneous trades executed on the …
Zurich Insurance Group AG has amassed a substantial stake in Banco Sabadell SA, potentially giving it more influence over an important source of sales that’s facing a hostile takeover bid. The Swiss firm has increased its holding in Sabadell to …
Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported a 5% gain in profit for 2024. Group operating profit rose to $7.75 billion in the year, the company said …
Helvetia Holding AG is considering a sale of its loss-making German insurance operations, according to people familiar with the matter. The Swiss insurer has hired JPMorgan Chase & Co. and plans to collect non-binding offers for the unit in the …
Swiss insurer Helvetia plans to cut jobs and relocate some workers as part of an efficiency program aimed at saving about 200 million francs ($224 million) over the next three years. The measures will affect around 500 positions, of which …
Swiss Re AG said it was raising reserves in its US Property & Casualty business by $2.4 billion in the third quarter, a move analysts said was positive despite a resulting downgrade to full-year profit expectations. “We conducted a comprehensive …
