Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost two decades as a shortage of supply and high natural catastrophe payouts help reverse declining premiums. “The last time this kind of market really existed was in 2002,” James Shea, the company’s head of commercial… Continue reading Zurich Sees Rising Rates, Improved Terms
Tag: Zurich
Zurich Commits to UN Climate Pledge, Plans to Lower Fossil Fuel Exposure
Zurich Insurance Group has committed to setting new climate targets in line with the framework of the UN Global Compact Business Ambition Pledge, which aims to limit the rise in global temperatures to 1.5°C. As part of its commitment, Zurich will expand its existing thermal coal policy by engaging with clients and investee companies to… Continue reading Zurich Commits to UN Climate Pledge, Plans to Lower Fossil Fuel Exposure
Enstar Group Limited Announces Reinsurance of $500 Million of Zurich’s Legacy A&E Business
Enstar Group Limited announced today that one of its wholly-owned subsidiaries has signed an agreement with a subsidiary of Zurich Insurance Group to reinsure a number of U.S. asbestos and environmental liability insurance portfolios. Enstar’s subsidiary will assume gross insurance reserves of approximately $0.5 billion, relating to 1986 and prior year business. The closing of… Continue reading Enstar Group Limited Announces Reinsurance of $500 Million of Zurich’s Legacy A&E Business
Zurich CEO Says Insurer May Exceed Its 2019 Goals
Zurich Insurance will meet all the targets laid out in its business plan to 2019 and could even beat them, Chief Executive Mario Greco said in an interview published in an Italian newspaper on Monday. In the 2017-2019 period Zurich, Europe’s fifth-largest insurer, plans to cut costs for a cumulative amount of $1.5 billion (1.1… Continue reading Zurich CEO Says Insurer May Exceed Its 2019 Goals