The insurer’s price hikes helped it to bring in operating profits that were better than expected by mid-year. The Zurich Insurance company recently reported that it has achieved a half-year operating profit that was better than expected, bolstered by its life business and the price increases it implemented to mitigate increased claims from severe storms. Zurich is the fifth-largest insurer in Europe and posted a $3.72 business operating profit. Though there wasn’t much of a difference over last year’s first half, analysts were polled by the company and their average…
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Zurich Insurance predicts its pandemic claims payouts will break $750 million this year
The estimates involve the overall property and casualty (P&C) payments specific to the coronavirus. Zurich insurance has released its most recent forecast regarding payments of pandemic claims. The insurer giant predicts that its own payouts will be in the ballpark of $750 million for 2020. The insurer’s CFO said that the claim level can be compared to all 2017’s hurricanes combined. George Quinn, CFO at Zurich said that the size of the pandemic claims is similar to what they experienced in 2017 from Hurricanes Harvey, Irma and Maria, combined. That…
Read MoreZurich Insurance Group makes $2.1 billion ANZ life insurance acquisition
The Swiss insurer will solidify a more important spot within this sector of the global industry. Zurich Insurance Group has announced its acquisition of ANZ life insurance. The move will place the Swiss company in the top position within Australia’s retail life insurance marketplace. The acquisition was made for a reported $2.1 billion and will considerably increase its standing in Australia. Before the ANZ life insurance acquisition, Zurich had been holding the fifth spot within that marketplace. Now it will take an easy first. The Swiss insurance company stated that…
Read MoreZurich Insurance company brings in new global life CEO
Gary Shaughnessy has now been appointed as the chief executive officer as the insurer shuffles leadership again. The Zurich Insurance company has now announced that it has changed leadership in its Global Life business for the second time in a span of two years, now that it has appointed Gary Shaughnessy to the position. The new CEO had already been the head of the life insurance business for the U.K. with extensive experience. The 49 year old had also been the interim CEO of global life in Asia, Europe and…
Read MoreZurich Insurance company shows substantial profit reduction
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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