Swiss-headquartered insurance giant Zurich has sold its South Africa operations to Toronto-headquartered Fairfax Financial Holdings for an undisclosed sum.
Swiss-based Helvetia Group saw its IFRS after tax result fall to SFr309m (£220m) (2014: SFr393m) but there was an improvement in its combined operating ratio to 92.1% (2014: 93.5%) and other profit metrics.
Three board members at Helvetia Holdings will not stand for re-election, following the integration of the (re)insurer with Nationale Suisse and a planned reduction of Helvetia’s board.
After four years as CEO, Swiss Re’s Michel Liès will step down on 1 July with reinsurance head Christian Mumenthaler named as his replacement.
Zurich is keeping a close eye on how the referendum over UK membership of the European Union progresses, according to UK general insurance CEO Vibhu Sharma, who highlighted the company's position as one that is already headquartered outside the EU.
Zurich's next global CEO must focus on improving the company's property and casualty underwriting performance, with commentators pitching Mark Wilson and Tom Bolt among the front runners for the insurer's top job.
Swiss insurer Helvetia has completed the sale of its subsidiary Nationale Suisse Belgium and the two underwriting agencies owned by the latter to Enstar Group.
Pierin Vincenz has today (1 October) taken up the role of chairman of the board of directors at Helvetia group.
Insolvencies in the Eurozone are 75% higher in 2015 than they were in 2007 with trade credit insurer Atradius predicting they will remain 67% higher than the 2007 level in 2016.
Helvetia has recorded a "very satisfying business performance" for the first half of 2015, which it claims reflects the successful acquisitions of Nationale Suisse and Basler Austria last year.
Zurich has asked RSA for more time to make a formal offer for the business ahead of the bid deadline tomorrow, according to reports.
Zurich Group has $3bn (£1.9bn) in excess capital it intends to spend by the end of 2016 either through merger and acquisition activity or return of capital to shareholders.
Trade credit insurer Euler Hermes has reported a 5.1% increase in revenues for the three months ended 31 March 2015 to €670m (£478m).
Zurich reported a group general insurance business operating profit of $2.89bn (£1.9bn) for the year ended 31 December 2014 which equated to 50% of its overall business operating profit.
Europe’s 20 largest cedants are benefitting from lower reinsurance rates and stronger bargaining power according to ratings agency AM Best.
The president of the board of directors of the Helvetia Group, Erich Walser, unexpectedly passed away on 30 December 2014.
Insurers continue to lag behind their banking counterparts when it comes to mobile websites and apps, according to research from CP consulting.
Helvetia and Nationale Suisse have agreed the terms of a merger, which will see them create a new Swiss insurance group.
The UK has been ranked 20th in FM Global's 2014 survey grading countries on their resilience to supply chain disruption.
The Geneva Association is conducting research on the social and economic value of insurance, according to its annual report.
Swiss Re has moved to distance itself from reports linking the business with the sale of as stake to Italy’s Agnelli family.
Swiss insurer Helvetia Group increased its profit after tax by 9.2% to CHF 363.8m in the 2013 financial year.
Could factors including economic growth in the East and increasingly burdensome UK regulation see Lloyd’s Asian hub in Singapore oust its London counterpart as the global centre of insurance?
Europe's car dealers sold policies worth an estimated €16.3bn in 2012 across six major insurance, warranty and assistance types plus niche insurance products available in some countries, according to research by Finaccord.