Zurich
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The carrier expects NA crop volumes to decrease in 2023 year-over-year due to commodity price developments. -
Beneva has signed up to net-zero targets as a member of the NZIA, following a period of turbulence in which Munich Re, Zurich and Hannover Re have left the alliance.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Zurich’s decision comes less than a week after Munich Re decided to withdraw from the UN-backed initiative.
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Fox will report to Zurich North America CEO Kristof Terryn, with a shared reporting relationship to group CUO Penny Seach.
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The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector.
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Zurich NA’s P&C CoR decreased to 91.3% in 2022 from 92.4% in 2021 while the group’s CoR remained at 94.3%.
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The carrier has upped its global all-perils cat coverage to $1.2bn since January last year.
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Of the 8.5% quota share assumed by Farmers Re, 6.75% was retroceded to Zurich Global.
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The total raised for the InsurTech has now reached $24.5mn over the past 16 months.
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Members of the captive receive an assessment of their carbon footprint and energy consumption by Zurich NA
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The CEO called for the formation of public-private partnerships, akin to those in place for terrorism or earthquakes, to tackle systemic cyber risks.
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