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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...

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Risk 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...

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Update: 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...

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Zurich 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...

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Zurich 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...

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Zurich 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...

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Zurich’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...

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Zurich’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...

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Zurich 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...

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Zurich 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...

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Zurich’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...

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Zurich 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...

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Zurich 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,...

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Zurich 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...

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Intesa’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...

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Update: 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...

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Opinion: 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...

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Zurich 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...

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Zurich 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...

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Zurich 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...

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Zurich’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...

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Zurich 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...

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Zurich’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...

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Zurich 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...

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Zurich 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...

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Zurich 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...

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Zurich 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...

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Financial 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...

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Changes 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...

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In 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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