Zurich’s Q1 Net Income Down 28% to $875M, Beating Analysts’ Expectations
Zurich Insurance Group AG, Switzerland’s biggest insurer, posted a first-quarter profit that beat analysts’ expectations as Chief Executive Officer Mario Greco continues the overhaul of its biggest...
View ArticleRisk Accumulation Aggravated Zurich’s Tianjin Port Explosion Losses: Chairman
Zurich Insurance Group AG is fixing how it detects risks after miscommunication among units aggravated losses from a port explosion in China last year, Chairman and acting Chief Executive Officer Tom...
View ArticleUpdate: Zurich Insurance Weighs Sale of Hong Kong & Singapore Units
Zurich Insurance is exploring a sale of its Hong Kong and Singapore operations as it reviews its non-core businesses outside Europe, sources familiar with the matter said. The Swiss insurer has...
View ArticleZurich Insurance’s Ex-CEO Senn Received Remuneration of $6.3M in 2015
Zurich Insurance paid Martin Senn, its former CEO, 6.1 million Swiss francs ($6.3 million) during 2015, down from 7.2 million Swiss francs ($7.9 million) in 2014, the company reported. (The Swiss franc...
View ArticleZurich Needs Clear, Simple Strategy to Rebuild Investor Trust: New CEO Greco
Zurich Insurance Group AG needs a clear and simple strategy to rebuild investor confidence as the company tries to turn around its struggling general insurance unit, said Mario Greco, the firm’s new...
View ArticleZurich Restructure on Track, but Organization Still too Complex: CEO Greco
While Zurich Insurance Group’s new chief executive officer believes the insurer is on the right track in terms of growth and profit, the organizational structure remains too complicated, he suggested...
View ArticleZurich’s New CEO Greco Reorganizes Company, Simplifying Structure
Zurich Insurance AG’s new chief executive officer, Mario Greco, is shaking up the largest Swiss insurer after an unexpected jump in claims last year forced it to abandon a takeover and prompted his...
View ArticleZurich’s CEO Greco Cleans House with Tough Road Ahead: Opinion
Switzerland’s biggest insurer, Zurich Insurance, has unveiled a shareholder-friendly shift to a simpler management structure under new chief Mario Greco. That’s a positive step. Too bad it’s into a...
View ArticleZurich Reorg Designed to Improve the Customer Experience: CEO Greco
The structural changes announced by Zurich Insurance Group late last week are intended to organize the company “around the customer” and improve customer innovation, according to Chief Executive...
View ArticleZurich Launches Commercial Insurance Unit; Shea Named as Head
Zurich Insurance Group AG named James Shea to head a new unit that will combine its global corporate and commercial businesses as part of a company-wide restructuring. Shea, 50, joins from American...
View ArticleZurich’s Re-Underwriting Program Begins to Bear Fruit – in Its Financials
Zurich Insurance Group’s re-underwriting program is starting to bear fruit – as evidenced by the company’s improved third-quarter results – but Group CFO George Quinn readily admits there is still work...
View ArticleZurich to Cut Costs by $1.5B with Simplification ‘Name of Game’: CEO Greco
Zurich Insurance Group AG plans to cut costs by $1.5 billion from 2015 through 2019 as Chief Executive Officer Mario Greco overhauls Switzerland’s largest insurer and seeks to boost the firm’s...
View ArticleZurich to Cut Spending on Large Tech Projects as Part of Cost Saving Plan
Zurich Insurance Group AG, Switzerland’s biggest insurer, plans to cut spending on large technology projects as it seeks to reduce costs, according to chief risk officer Cecilia Reyes. “Managing,...
View ArticleZurich to Cut 240 UK Jobs as Life, General Insurance Arms Combine
Zurich Insurance Group AG plans to slash about 240 jobs in the UK as part of broader efforts to bring its Life and General Insurance division under a single leadership team. Zurich disclosed the new UK...
View ArticleIntesa’s Interest in Generali Merger Has ‘No Obvious Logic’: Opinion
Intesa Sanpaolo SpA’s interest in combining with insurer Assicurazioni Generali SpA has no obvious logic to it. If the lender has a cunning plan to make it work, it needs to reveal it. For now, Intesa...
View ArticleUpdate: Zurich Returns to Profit in Q4 2016 with Net Income of $685M
Zurich Insurance Group AG fell in Zurich trading after posting a quarterly profit supported by one-time gains as Chief Executive Officer Mario Greco presses ahead with an overhaul of Switzerland’s...
View ArticleOpinion: Why Is Zurich Seeking Shareholder Permission to Raise Money?
Zurich Insurance Group AG wants more freedom from its shareholders to raise money quickly. That’s odd. Switzerland’s largest insurer has no capital hole that needs filling. The move suggests newish CEO...
View ArticleZurich Reports 21% Hike in Net Income as Restructuring Program Takes Hold
Zurich Insurance says its restructuring program is on track to achieve its goals over the next few years, continuing its work on cutting expenses, stabilizing its property and casualty business and...
View ArticleZurich Insurance ‘On Track’ to Cut $1.5B in Costs by 2019: News Report
Zurich Insurance will have cut costs by $700 million by the end of the year, nearly halfway to its goal to save $1.5 billion by 2019, Chief Executive Mario Greco said in an interview published on...
View ArticleZurich Insurance to Acquire ANZ’s Life Businesses in Australia for US$2.14B
Zurich Insurance Group announced that it has entered into an agreement to acquire 100 percent of ANZ’s life insurance businesses, OnePath Life, in Australia, for A$2.85 billion (US$2.14 billion). Both...
View ArticleZurich’s Acquisition of ANZ Life Unit Designed to Boost Dividends
Zurich Insurance Group AG’s decision to acquire the life-insurance businesses of Australia & New Zealand Banking Group Ltd. should help Switzerland’s biggest insurer fulfill its ambition to...
View ArticleZurich Insurance Raises Dividend as Cost Cuts Bear Fruit
Zurich Insurance Group AG overcame a record year for natural-disaster claims in the industry to deliver its first dividend increase since 2011. The shares rose the most since August 2016. Switzerland’s...
View ArticleZurich’s H1 Net Income Rises 19%, Getting Boost from P/C Unit
Zurich Insurance Group AG got a boost from its property & casualty business, putting the company on track to meet Chief Executive Officer Mario Greco’s three-year restructuring goals. The Swiss...
View ArticleZurich Insurance Reports 24% Jump in 2018 Net Income Driven by Life, P/C Units
Zurich Insurance’s reported 2018 net income after tax of $3.72 billion, a 24 percent jump from $3.0 billion it reported in 2017 – primarily driven by growth in its life business and improved...
View ArticleZurich Completes Acquisition of ANZ’s Life Insurance Business in Australia
Zurich Insurance Group said it has completed the acquisition of the life insurance businesses of Australia & New Zealand Banking Group Ltd. (ANZ), becoming a major life insurer for retail customers...
View ArticleZurich Insurance Expects to Beat Targets as It Enters Final Stretch of...
Zurich Insurance Group AG said it expects to beat all its financial targets for the 2017-2019 period as the global insurer enters the the final stretch of a three-year turnaround. “In 2016, we gave...
View ArticleZurich CEO Says Big Transnational M&As Won’t Solve Industry Fragmentation:...
The European insurance sector is too fragmented but large cross-border deals are not the solution to the problem, the head of Europe’s fifth-biggest insurer Zurich said in a newspaper interview on...
View ArticleFinancial Services CEOs in Davos Complain They Can’t Save Planet Without...
As the financial industry comes under pressure to avoid funding dirty energy, the heads of Citigroup Inc. and Zurich Insurance Group AG said they need their clients to do more work too. “I say to our...
View ArticleChanges at Zurich: New Digital Team; New CEOs for Asia Pacific, North...
Zurich Insurance Group is launching a new unit to expand digital services platform worldwide. The company has also appointed several new chief executive officers for key regions. The new Global...
View ArticleIn Both Hard and Soft Markets, Zurich Aims to Maintain Focus on Underwriting...
Zurich Insurance Group has worked hard to turn around its financial results over the past five years by bringing underwriting back to the organization, with a greater focus on selecting the right...
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