Zurich Insurance boosts ambition with new financial targets

Zurich Insurance boosts ambition with new financial targets

ZURICH/LONDON, Nov 16 (Reuters) – Zurich Insurance Group (ZURN.S) has set a new 2023-2025 target of increasing business operating profit after tax return on equity (BOPAT ROE) to more than 20% by 2025, with 8% compounded organic growth per share per year. aims to produce announced on wednesday. Europe’s fifth largest insurer also targets cumulative … Read more

Zurich Insurance claims $550 million in damages from Hurricane Ian

Zurich Insurance claims $550 million in damages from Hurricane Ian

Zurich, November 10 (Reuters) – Zurich Insurance Group (ZURN.S) expects a net pre-tax hit of $550 million from Hurricane Ian. Europe’s fifth-largest insurer said its new annual premium equivalent (APE) in life insurance fell 6% but rose 2% on an equal basis after adjusting for currency movements, acquisitions and disposals. Zurich’s Swiss Solvency Test (SST) … Read more

Sean Penn visits Zelensky in Ukraine, lends Oscar

Sean Penn visits Zelensky in Ukraine, lends Oscar

(Reuters) – Hollywood actor and director Sean Penn, who has been sanctioned by Russia for criticizing the war in Ukraine, met Ukrainian Volodymyr Zelensky during a visit to Kyiv on Tuesday. Lent an Oscar statuette to the president. “It’s just symbolic and ridiculous,” he said, sitting beside the Ukrainian leader at the table at the … Read more

Dutch provinces to end fossil fuel export credit insurance from 1 January

Dutch provinces to end fossil fuel export credit insurance from 1 January

AMSTERDAM (Reuters) – The Dutch government said on Thursday it intends to stop providing credit insurance to companies and banks for exports in the fossil fuel sector as of January 1, following pledges made at the COP26 climate change conference. did. in Glasgow. In a statement announcing the move, the Treasury Department called it an … Read more

Aircraft leasing company Avolon files lawsuit against Lloyds Insurance

Aircraft leasing company Avolon files lawsuit against Lloyds Insurance

DUBLIN (Reuters) – Aircraft leasing company Avolon is suing Lloyds Insurance in the Irish High Court as leasing giants file lawsuits over huge losses linked to the Russia-Ukraine war, the report said. It was revealed in documents shown Thursday. Avolon posted an impairment loss of $304 million in the first quarter and suffered financial losses … Read more

Insurance for Ukrainian grain shipments cut after Russian suspension – source

Insurance for Ukrainian grain shipments cut after Russian suspension - source

LONDON (Reuters) – Insurers are no longer offering new cargo insurance for shipments from Ukraine through the UN-backed secure corridor after Russia stopped participating, industry sources said. an industry source said on Tuesday. An export deal agreed by Russia and Ukraine and brokered by Turkey and the United Nations in July was aimed at alleviating … Read more

Ukrainian premiums surpass Iraq war levels, industry sources say

Ukrainian premiums surpass Iraq war levels, industry sources say

LONDON (Reuters) – Insurance for humanitarian workers, journalists and engineers heading to Ukraine has become more expensive and harder to organize than during the Iraq war. After initially nervous about offering coverage in the wake of Russia’s invasion of Ukraine in February, several insurers have become more willing to do so in recent months, industry … Read more