Swiss Re has estimated that its first quarter P&C pre-tax catastrophe losses exceed $2.3 billion, resulting in the $1.233 billion operating loss in this sector given above. Swiss Re’s earnings bulletin pointed out that the reinsurer’s P&C “treaty business written …
Zurich Financial Services Group announced the appointment of Antônio Cássio dos Santos (46, Brazilian citizen) to the position of CEO LatAm General Insurance, effective May 1, 2011. He succeeds Peter Rebrin who has been appointed to the newly created position …
The Zurich Financial Services Group announced that after a 33-year career with the company, Paul N. Hopkins will retire as a member of the Group Executive Committee, regional chairman of the Americas for Zurich, and chairman of the board of …
Zurich Financial Services Group announced that Thomas Huerlimann (47, Swiss citizen), currently CEO Global Corporate in Europe, has been appointed to the position of CEO Global Corporate, effective immediately. Zurich noted that “he will succeed Mario Vitale, who has decided …
Zurich Financial Services Group announced that it has “closed the sale to Unnim of its 50 percent stakes in the life and general insurance bancassurance companies CaixaSabadell Vida, S.A. de Seguros y Reaseguros and CaixaSabadell Companyia d’Assegurances Generals, S.A., jointly …
The Zurich Financial Services Group announced that it has it reduced its 20 percent stake in New China Life Insurance Co., Ltd. to 15 percent. Zurich said it has “agreed to sell 5 percent to undisclosed buyers.” The sale is …
Standard & Poor’s Ratings Services has affirmed its ‘AA-‘ long-term counterparty credit and insurer financial strength ratings on the various operating entities of Switzerland-based insurance group Zurich Financial Services (collectively ZFS), which includes Zurich Insurance Co. Ltd. (ZIC), Ireland-based Zurich …
Zurich Financial Services Group announced that it has signed a Memorandum of Understanding (MOU) with Banco Santander SA to enter into a 25-year strategic distribution arrangement in Latin America. Zurich said that as part of the transaction, it will acquire …
Zurich Financial Services Group announced the appointment of Peter J. Wright (56, British citizen) to the position of Group Head of Human Resources, effective February 21, 2011. He succeeds Peter Goerke, who left Zurich in January 2011. Wright will be …
Zurich Financial Services Group reported a business operating profit (BOP) of $4.9 billion, a 13 percent decline, and net income of $3.4 billion for the year ended Dec. 31, 2010. The company said the results reflected “its strong focus on …
