Zurich Insurance has announced several changes to the executive line up of its U.K. General Insurance business. The appointments are as follows: Karl Helgesen was named U.K. chief claims officer, effective December 2015, as Tony Emms leaves the business UKGI …
Insurer Talanx AG’s $122 million loss from port explosions at Tianjin, one of China’s worst industrial disasters, takes the net hit incurred by insurers across Europe, the U.S., Bermuda and Asia to almost $2 billion, according to filings by 26 …
Zurich Insurance Group AG is seeking to replace Chief Executive Officer Martin Senn after third-quarter losses forced it to abandon its bid for Britain’s RSA Insurance Group Plc, according to a Swiss business magazine. Switzerland’s biggest insurer has hired the …
Zurich Insurance Group AG plans to cut 440 jobs at its U.K. general insurance unit as part of a cost- cutting program. Zurich is also seeking to simplify its organizational structure, the company said in a statement to Bloomberg News …
Zurich Insurance Group AG would rather invest the company’s $3 billion in excess capital on acquisitions than return the cash directly to shareholders, Chief Financial Officer George Quinn said in an interview on Thursday. “Obviously we would like to invest …
Zurich Insurance Group AG said profit fell 79 percent in the third quarter after it booked $275 million in losses from the Tianjin disaster and set aside $367 million more in reserves to cover mainly North American auto and construction …
Swiss Re AG, the world’s second-largest reinsurer, posted a 13 percent increase in third-quarter profit after allowing for $250 million in losses from the chemical warehouse explosions in the Chinese city of Tianjin in mid- August. Net income climbed $1.4 …
Argentina’s insurance regulator changed the rules governing the amount of foreign currency holdings the companies can keep, which could prompt the firms to sell assets to meet a year-end deadline. Insurance companies must adjust their foreign-currency security holdings to match …
Validus Holdings Ltd. estimates it lost just under $64 million from the Port of Tianjin explosion and recent earthquake in Chile, a number that matches its Q2 net income. Breaking down this figure, the Bermuda-based insurance and reinsurance holding company …
A.M. Besthas affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” while at the same time revising the outlook to negative from stable forZurich Insurance Company Limited(ZIC) and some of its rated affiliates. ZIC …
