Zurich insurance company reveals a new tactic in $1 billion deal

zurich insurance company logo

The insurer that suffered striking losses last year and backed out of potential agreements has a new strategy. The Zurich insurance company has now come up with a new strategy to help to recover from a rough period throughout 2014 to 2015 and has revealed that it intends to spend over $1 billion in the purchase of an American agricultural insurer. This is a component of the insurer’s new strategy for acquisitions after having stepped back from RSA in the U.K. Earlier in December, the insurance company’s CEO chose to…

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Zurich Insurance company shows substantial profit reduction

Zurich Insurance Company News Building in Leeds

The general coverage business from the firm has recorded an operating loss making insurance news headlines. Zurich Insurance Group has recently reported that the insurance company has experienced a 79 percent drop in its net profit for the third quarter of 2015, requiring the firm to have to change gears with regards to a number of strategies it had planned to implement. Among the scrapped plans in this insurance news included a sizeable acquisition mean to boost financial performance. The insurance company, based in Zurich, stated that its net profit…

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Insurance news reports suggest $1-$1.5 billion in losses from Tianjin explosions

These reports are based on the blasts that have rocked the Chinese port city and surrounding area. The two sets of explosions that devastated Tianjin, the Chinese port city, and that killed over 100 people, so far, are now making insurance news again as initial estimates are being released that indicated that covered losses will be anywhere from $1 to $1.5 billion. This initial estimate was released by Credit Suisse, based on early media reports from China. Tianjin is no small port. It is the third largest port on the…

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Insurance news from Tianjin explosions shows claims have started

Tianjin explosion China insurance news

Zurich has announced that it is already receiving claims and that it is bracing for many more. The insurance news from Zurich Insurance Group’s Chinese unit has revealed that it has already started receiving filings with regards to the explosion in the country’s northeast city of Tianjin, and it has added that it is preparing to receive many more. The blast struck the city in China last Wednesday, killing over 85 people and injuring more than 720. As rescue workers continued to pull survivors out of the disaster zone, two…

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Cyber insurance gains a boost after high profile attacks

Cyber Insurance

High profile attacks in 2013 draw more attention to cyber protection The attack against Target during the 2013 holiday season had dealt a powerful blow to the retailer, but it served as an opportunity for insurance companies that offer protection against such attacks. The attack against Target highlighted the dangers that exist in the digital world and the fact that even large companies have blind spots when it comes to matters of security. Cyber insurance can provide a safety net in the event of such attacks, and the high profile…

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Insurance industry in the Middle East and North Africa primed for growth

International Insurance Industry

The Zurich Insurance Group report has shown that the sector in these regions is ready to expand. According to a new report from Zurich, the insurance industry is ready for a considerable amount of growth in both the Middle East and North Africa, and this could lead to a significant level of economic growth in those regions. At the same time, it noted that while there is growth potential, there remain several challenges in the way. The insurance industry in the Middle East and North Africa (MENA) region currently has…

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Insurance news from Zurich is that it is looking to expand in Asian market

International Insurance fund news

The insurer is seeking to broaden its presence in Indonesia and China. The largest Swiss insurer, Zurich Insurance Group, has revealed in its latest insurance news, that it is working to obtain additional licenses in order to be able to broaden its business in Chinese cities, as an element of its strategy to boost its presence in emerging markets. This announcement came from Martin Senn, Zurich’s chief executive officer. Senn also stated that while the insurer does see opportunities for growth in the channel of mergers and acquisitions, the company…

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