Zurich

Zurich unveils new targets after meeting current goals a year ahead of plan

Zurich has unveiled fresh targets for profitability and growth for the next three years, after a better-than-anticipated market environment put the insurer on track to exceed its existing guidance a year ahead of plan.

Zurich promotes Bernard to head US middle market industry practices

Zurich Insurance Group North America has promoted Stan Bernard to head of industry practices for the US middle market.

Zurich 9M P&C GWP grows 4% to $36.13bn

Zurich Insurance has grown its property and casualty gross written premiums by 4 percent year-on-year to $36.13bn for the first nine months of 2024.

Zurich NA adds AIG’s Hattauer as head of financial lines

Zurich North America has appointed former AIG executive Nora Hattauer as head of financial lines for its US national accounts and middle market businesses, effective 21 October.

Zurich targets 20% slash in large corporate portfolio emissions in new transition plan

Zurich has set an interim target to reduce the intensity of insurance-associated emissions in its large corporate customer portfolio by 20 percent between 2022 and 2030.

Miller and Aon looking for Zurich replacement on Intl Group 5% private placement

Zurich is not renewing its 5 percent multi-year private placement on the International Group of P&I Clubs’ $3.1bn reinsurance program, while Sompo and Hannover Re are seeking to renew their 10 percent positions with updated terms following the Baltimore bridge loss, The Insurer can reveal.

Marsh McLennan and Zurich call for PPPs to manage unquantifiable cyber risk

Marsh McLennan and Zurich have called for the cyber insurance market to close the ~$0.9trn protection gap through the creation of public-private partnerships to manage unquantifiable cyber risks.

Zurich NA promotes Forster and Maddox to lead East and South Central regions

Zurich North America has promoted Ben Forster and Jana Maddox to regional executive roles, leading the company’s new East and South Central regions, respectively.

Cowbell valued at $400mn+ in Zurich-backed Series C, projects profitability in 2026

Cowbell’s $60mn Series C equity investment from Zurich valued the company at somewhere north of $400mn, with the insurance giant understood to have taken a stake of between 10 and 20 percent in the cyber insurtech, Cyber Risk Insurer can reveal.

Zurich signals Singapore growth with Chubb’s Ooi leading A&H

Zurich has strengthened its Singapore unit with the appointment of Nixon Ooi as head of accident and health.

Zurich posts record H1 operating profit but P&C combined ratio misses

Zurich Insurance Group has reported a record business operating profit for the first half of 2024 driven by its life, Farmers and group functions but its P&C combined ratio missed consensus expectations.

Zurich UK sells marine insurer N&G to Ardonagh-owned MGA

Geo Underwriting, part of Ardonagh Advisory, has agreed to acquire the Navigators & General brand from Zurich UK.

Kudale: Zurich investment is “endorsement” of Cowbell’s “vision and capabilities”

Cowbell CEO Jack Kudale said on Friday that the $60mn Series C investment his company received from Zurich is a “milestone” that marks “a new chapter” for the insurtech and that its latest funding round “is an endorsement of Cowbell’s vision and capabilities”.

Cowbell confirms $60mn Series C equity investment from Zurich

Cowbell has confirmed the close of a $60mn Series C equity investment from Zurich Insurance Group, which the insurtech will use to fund the next phase of its expansion.

Zurich’s Cowbell buy-in may spur Axa and Generali to seek cyber MGA partnerships: Citi

Zurich’s investment into cyber MGA Cowbell may spur European multiline rivals Axa and Generali to seek similar investments or partnerships as the available pool of cyber MGA relationships shrinks, Citi analyst James Shuck has said.

Zurich to make major investment in cyber insurtech Cowbell

Zurich is making a significant investment in cyber MGA Cowbell, a move that is expected to see the Swiss insurance giant take a significant equity stake and which represents a key cash infusion into the insurtech, Cyber Risk Insurer can reveal.

Axa XL names former Zurich exec Ziegler as COO for Americas

Axa XL has appointed former CopperPoint and Zurich executive Kathleen Ziegler as the new chief operating officer for its Americas insurance business.

Builders risk MGA US Assure up for sale in Dowling Hales-led process

Jacksonville, Florida-based MGA US Assure has hired investment bank Dowling Hales to lead a sales process that is expected to be geared towards strategic acquirers, The Insurer can reveal.

Zurich and Aon launch oversubscribed multi-line hydrogen insurance facility

Zurich and Aon have unveiled a clean energy insurance facility to provide comprehensive coverage globally for blue and green hydrogen projects with capital expenditures of up to $250mn.

Zurich NA names Bracken CFO as Hirs moves to group role

Zurich North America has appointed former Fortitude Re CEO James Bracken as chief financial officer, succeeding Peter Hirs, who will return to Zurich Insurance Group in Switzerland as group head of mergers and acquisitions.

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