Zurich Insurance News

Zurich Insurance Reports Profit Rebound

Zurich Insurance Group AG, Switzerland’s biggest insurer, said third-quarter profit rose 64 percent, beating analyst estimates, after a write-off related to its German business hurt earnings a year earlier. Net income rose to $1.1 billion from $672 million a year …

Review of Zurich Finance Chief’s Suicide Clears Ackermann

Zurich Insurance finance chief Pierre Wauthier did not come under “undue pressure” before his suicide, the firm said on Monday, citing results of an investigation into his death that it hopes will wrap up the scandal before earnings next week. …

Former Zurich Chair Ackermann Quits Siemens, Refutes Influence in CFO Suicide

Josef Ackermann will step down from Siemens AG’s supervisory board, two weeks after he resigned as chairman of Zurich Insurance Group AG following his naming in the suicide note of finance chief Pierre Wauthier. The decision of the former Deutsche …

Zurich Insurance CFO Wauthier Committed Suicide: Police

Pierre Wauthier, chief financial officer of Zurich Insurance Group AG, probably committed suicide at his home, according to police. He was 53. An autopsy to determine the cause of death “clearly pointed to a suicide,” Marcel Schlatter, a police spokesman …

Zurich Insurance CFO Wauthier Found Dead

Zurich Insurance Group AG, the biggest Swiss insurer, said Chief Financial Officer Pierre Wauthier was found dead at his home this morning. The police are investigating the exact circumstances of his death, the Zurich-based company said in an e-mailed statement …

Zurich, Swiss Re in $270 Million Excess of Loss Deal for No. Am. Quake Coverage

Zurich Insurance Group and Swiss Re have announced that Zurich has obtained, through its subsidiaries Zurich American Insurance Company and Zurich Insurance Company Ltd, a 3-year $270 million catastrophe excess of loss reinsurance protection from Lakeside Re III Ltd. to …

Zurich Estimates Sandy Losses at $700 Million; $40 Million for Farmers Re

Zurich Insurance announced that it currently estimates aggregate claims net of reinsurance of about $700 million relating to Storm Sandy. “This includes $40 million related to Farmers Re in connection with the reinsurance cover provided to the Farmers Exchanges, which …