Zurich’s half year results hit by Ogden change, but second quarter sees improvements

Zurich’s half year results hit by Ogden change, but second quarter sees improvements

Zurich’s half year results hit by Ogden change, but second quarter sees improvements

Zurich Insurance has reported a small increase in business operating profit for the first six months of 2017 to $2.167bn from $2.163bn for the same period in 2016. The first half result was affected by the change in the UK discount rate (Ogden) for calculating personal injury and accident claims resulting in a $289m impact in the first quarter of…

New head of Zurich North America’s captive unit

New head of Zurich North America’s captive unit

New head of Zurich North America’s captive unit

Zurich has appointed Todd Cunningham to head the single-parent and sponsored-cell captives unit for Zurich North America. Mr Cunningham will continue to lead Zurich’s strategic risk solutions group, which specialises in integrated and structured products with multiyear features. He has been responsible for underwriting and business development of customised insurance solutions for Zurich customers since 2005. According to Zurich, he…

Contract certainty and compliance in an uncertain, complex world

Contract certainty and compliance in an uncertain, complex world

Contract certainty and compliance in an uncertain, complex world

In the current global environment, the complexity of doing global international business is increasing; it is becoming more uncertain and ambiguity is now a fact of life. As a result, contract certainty and compliance are two key issues for companies when it comes to global insurance programmes As regulators increase their involvement and interest in the businesses operating in their…

How to develop a deep understanding of connected risk in order to mitigate successfully

How to develop a deep understanding of connected risk in order to mitigate successfully

How to develop a deep understanding of connected risk in order to mitigate successfully

Global risks (economic, environmental, geopolitical, societal and technological) are evolving rapidly and becoming highly interconnected, which can affect the production cycle of a multinational company dramatically. Risk managers are therefore challenged to respond in a forward-looking and holistic way to protect employees, assets and business continuity. Today’s increasingly unpredictable geopolitical risks are deeply interconnected with the economic environment and if…

AG2R La Mondiale and Zurich Eurolife in new partnership

AG2R La Mondiale and Zurich Eurolife in new partnership

AG2R La Mondiale and Zurich Eurolife in new partnership

AG2R La Mondiale Europartner is to transfer its existing book of international pension plan business to Zurich Eurolife S.A. AG2R La Mondiale Europartner is the Luxembourg-based subsidiary of AG2R La Mondiale, which has a longstanding relationship with Zurich Insurance Group, serving as Zurich’s exclusive international network partner in France. AG2R La Mondiale said that in order to best assist its…

Zurich NA combines specialty products unit with commercial

Zurich NA combines specialty products unit with commercial

Zurich NA combines specialty products unit with commercial

Zurich North America has announced it is bringing its specialty products business together with its commercial insurance unit. The insurer said the consolidation will provide easier access to its products and services, and its global network. Paul Horgan, head of North America commercial insurance, will lead the newly expanded unit. He will report to Mike Foley, CEO of Zurich North…

A spotlight on global solutions for employee benefits

A spotlight on global solutions for employee benefits

A spotlight on global solutions for employee benefits

More and more large multinationals are realising that there is a significant opportunity to optimise their global employee benefits arrangements by structuring and managing their local benefit plans more holistically. Up until now, the placement of employee benefits has mostly remained local; with best-practices and data-sharing being difficult to implement due to manual processes and local data stored in disparate…

Zurich buys Sydney-based travel insurance provider Cover-More

Zurich buys Sydney-based travel insurance provider Cover-More

Zurich buys Sydney-based travel insurance provider Cover-More

Zurich Insurance Group has acquired 100% of the issued share capital of Cover-More Group Limited, a leading travel insurance and assistance solutions provider based in Sydney with a strong market position in Australia, India and the US. Zurich said it is looking to significantly expand its travel insurance portfolio and grow in global travel and assistance markets. According to Zurich,…

Captive health checks for captive owners

Captive health checks for captive owners

Captive health checks for captive owners

Making the most effective use of the captive retention to optimise risk financing costs is certainly a high risk management priority, and it is recommended that the retention be reviewed at regular intervals. “We have experienced that around 40% of our European captive customers perform an annual basis ‘health check’ to explore whether the captive retention has been set in…

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