Zurich Insurance
Zurich group reports stable £3bn operating profit
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.
Marsh call for all-risk BI gets Airmic support
The risk management industry has backed a call from global broker Marsh to overhaul business interruption policies and make them more relevant to modern customer demands.
Apil calls for insurers to be investigated as part of child abuse inquiry
The Association of Personal Injury Lawyers has called for the inquiry into historic child abuse to investigate the behaviour of insurers following allegations certain firms had encouraged councils to cover-up child abuse claims.
Marsh calls for universal all-risk business interruption
Marsh has urged the insurance industry to work towards establishing an all-risk business interruption policy.
Ascot and Beazley named among claims service improvers in Gracechurch report
Ascot, Beazley and RSA are among the London market insurers that have increased their net satisfaction ranking for claims service, according to research from Gracechurch consulting.
Insurers tried to influence child abuse inquiries, says former social services director
Councils and insurers have been criticised following an investigation into the set-up of child abuse inquiries at children's homes.
IFB announces appointments to supervisory board
Zurich's UK chief underwriting officer Cecile Fresneau and RSA's head of claims control Mike Curley have been appointed to the Insurance Fraud Bureau supervisory board.
Insurers quick to implement changes as wave of legislation arrives
Insurers have been quick off the mark to ensure their businesses comply with the Insurance Act before it comes into effect in August next year.
Zurich's Asia-Pacific GI COR climbed to 100.6% in 2014
2014 saw a higher amount of large individual losses for Zurich's general insurance business in the Asia-Pacific region than the previous year.
Industry should not ‘bank’ on weather benefits says Zurich’s Smith
Several years of benign UK weather are likely to increase pressure on home and buildings pricing according to UK GI CEO Dave Smith who has warned peers not to ‘bank’ on the benefit of below average catastrophe activity.
Zurich CEO "not satisfied" with group 2014 results
Zurich's pre-tax profit fell 1% last year to $4.64bn (£3.04bn) compared to $4.68bn in 2013.
Zurich's UK profits climbed 19.5% in 2014
Zurich's UK pre-tax general insurance profits climbed 19.5% to £171m last year from £143m in 2013.
Terrorism: Defusing the terrorism bomb
Despite recent terrorist attacks, the insurance market remains resilient, with losses in property damage and business interruption remaining low. However, what effect will the changes to Pool Re have?
Cedants less likely to transfer business to reinsurers, says AM Best
Europe’s 20 largest cedants are benefitting from lower reinsurance rates and stronger bargaining power according to ratings agency AM Best.
Zurich stands by ex-SSL directors despite £100k debt
An arm of Zurich's investment portfolio is estimated to be owed around £100,000 in rent arrears by defunct loss adjusting business SSL, according to an administrators’ report.
Fundamental dishonesty clause criticised for 'unfairly targeting claimants'
Claimant legal bodies have slammed the non-amendment of the the Criminal Justice and Courts Bill clause
Ifed investigation into fraudster unearths cannabis factory
An electrician who conned Zurich out of £15,000 by repeatedly reporting his work power tools had been stolen has been jailed after police officers investigating the fraud found a cannabis factory at his premises.
Market Moves - 29 January 2015
All the latest job moves in the insurance market.
In Series: Corporate Risk: Threats on the radar
Insurers can help companies with their risk management strategies by offering products that anticipate the challenges of the future
Brokers, insurers and reinsurers unite for microinsurance push
Nine brokers, insurers and reinsurers are combining in an attempt to add scale and reduce distribution costs of microinsurance.
Zurich appoints Sime to sales head role
Chris Sime has been appointed sales head for commercial broker and personal lines at Zurich.
Aviva and Zurich pledge £1m funding for mesothelioma research
Insurance companies Aviva and Zurich will donate a combined £1m over two years to the British Lung Foundation’s research programme into the asbestos-related cancer mesothelioma.
In Series: Corporate risk: Upping the pace
How can commerical insurance industry innovation better keep up with the ever-increasing speed of technological advancement and changing demands from UK businesses?
Interview: Stuart Spencer: Bullish about Japan
Andrew Tjaardstra, Post’s Asia editor, speaks to Stuart Spencer, head of Asia-Pacific, Zurich, about the post he has held for just over a year and Zurich's nation building in the region.