Tag: Zurich insurance news

Insurance news from Zurich reveals 82 percent profit increases

Zurich Insurance News

Gains from investments have caused the largest insurer in Switzerland to see a huge fourth quarter profit rise. The biggest insurer in Switzerland, Zurich, has made an insurance news announcement that its fourth quarter profits experienced an increase of 82 percent as a result of higher investment capital gains. The insurer’s net income experienced a massive growth when compared to the same time the year before. The net income that was reported by Zurich was $983 million. This was a considerable year over year increase, as the same time in…

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Insurance news from Zurich shows dropping profits

Julie Campbell
Zurich Insurance Company News Building in Leeds

The insurer’s third quarter profit fell by 62 percent. Zurich insurance news is now showing that the company will not be ruling out additional write-downs because of its struggling and bothersome German unit, as it has third quarter report is now revealing a drop of 62 percent in its net profits. The largest insurer in Switzerland has been accumulating almost $1 billion in additional costs since 2012. Those extra charges are the direct result of its business in Germany. In October, the group cautioned that any efforts for increasing claims…

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Insurance News from Zurich shows its profits diving by $550 million in Germany

insurance industry report

The Swiss insurer’s Q3 pretax profits will take a serious hit after coverage funding issues. Zurich Insurance Group, a Switzerland based insurer, has released its latest insurance news, which shows that its profits in Germany will be slammed by $550 million, pretax in the third quarter. This was the result of the insurer’s failure to put aside enough money to cover certain claims. Specifically it did not have the cash ready to cover the potential claims that occurred several years following the expiry of the policies. The insurer also stated…

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

H. Cutner
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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Spring storm loss estimates announced by Zurich Financial Services

H. Cutner

Zurich Financial Services Group has released its estimates regarding the Farmers Re and Zurich North America losses resulting from the $295 million in aggregate claims as a result of April and May’s severe weather events in the United States. The data represents only the net of reassurance estimate before tax, but this will be included into the mid-year results which will be released on August 11. The losses from April and May are related mainly to the American Southeast and Midwest regions where there were a large number of hail…

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