Climate change is a major concern for small and medium-sized enterprises (SMEs), according to Zurich Insurance Group’s fourth annual global SME survey. Almost four-fifths (78 percent) of SMEs surveyed expected risks associated with climate change to have a significant effect …
Zurich Insurance Group AG named James Shea to head a new unit that will combine its global corporate and commercial businesses as part of a company-wide restructuring. Shea, 50, joins from American International Group Inc. where he headed global financial …
Europe’s top cedents reported a double-digit hike in cessions for 2015 compared to the previous year. The trend stems from their taking advantage of cheap and bountiful reinsurance capacity, A.M. Best said in a new report. The continent’s 20 largest …
It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into …
Zurich Insurance (Hong Kong) has appointed Philip Chiu as the head of its Global Corporate Division, in a move from his previous position as Zurich’s head of Financial Lines in Asia. He will directly report to Keith Thomas, CEO Global …
Towergate and Navigators & General (N&G), a part of the Zurich Group, have signed a strategic partnership under which N&G will provide capacity and expertise for Towergate Marine products. Towergate Marine provides insurance for around 25,000 pleasure crafts including super …
Insurers who sell policies limiting executives’ liability from lawsuits have seen a surge in business thanks to a sprawling Brazilian corruption probe involving state-controlled Petroleo Brasileiro SA and a rash of corporate bankruptcies. The country’s so-called directors & officers (D&O) …
European insurers, whose profits are being eroded by Mario Draghi’s* quantitative easing program, face a stress test headache that risks requiring them to set aside more capital, further hurting their ability to make money. The timing of the regulator’s “stress …
Zurich announced that Conor Brennan has been appointed head of its UK General Insurance business, and will take up this role from the end of July. Brennan and newly appointed head of Zurich’s UK Life business Anne Torry, will report …
Brexit has created great uncertainty for the UK, the European Union and perhaps the world. Pretty much everyone agrees on that. But there is less agreement about how an EU exit will affect London’s financial center. Some are very gloomy …
