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Zurich Insurance Group AG (ZURVY.PK)

ZURVY.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

Zurich Insurance reinsures $2.3 bln book with Reinsurance Group of America
Thursday, 18 May 2017 12:05pm EDT 

May 18 (Reuters) - Zurich Insurance Group Ag :says subsidiary Farmers New World Life signed an agreement with Reinsurance Group of America <<>> to reinsure a portion of its closed U.S. annuity book, representing reserves of roughly $2.3 billion."The transaction with Reinsurance Group of America is another example of how the Group actively manages its capital and sharpens its business profile. This transaction reduces risk and continues the process of simplifying the group and releasing capital from non core activities as communicated at the time of our investor day in 2016," CFO George Quinn said in a statement.  Full Article

Zurich Insurance CFO: cost saving target "absolutely achievable"
Thursday, 11 May 2017 02:49am EDT 

May 11 (Reuters) - Zurich Insurance Group Ag CFO says:Don't expect any similar impact from changes to Ogden rate in subsequent quarters.already see prices in british P&C insurance market rising in response to changes to Ogden rate.$1.5 billion 2019 cost saving target "absolutely achievable".  Full Article

Zurich Insurance says completes acquisition of Cover-More
Thursday, 13 Apr 2017 01:22am EDT 

Zurich Insurance Group Ag :Says Zurich completes acquisition of Cover-More.  Full Article

Expert System signs agreement with Zurich Insurance Group
Wednesday, 12 Apr 2017 08:15am EDT 

Expert System SpA : Signs agreement with Zurich Insurance Group for cognitive computing solutions .Expert System will deliver cognitive computing solutions to Zurich Insurance Group (Zurich) across business units worldwide.  Full Article

Cover-more Group says Court approves Scheme of Arrangement
Thursday, 30 Mar 2017 09:15pm EDT 

Cover-more Group Ltd : Expects to lodge copy of court's orders approving scheme with Australian Securities And Investments Commission on 3 April 2017 . It is expected that trading in Cover-More's shares on ASX will be suspended from close of trading on Monday, 3 April 2017 .Court approved scheme of arrangement between Cover-More and shareholders under which Zurich Insurance through unit will acquire all of shares in co.  Full Article

Zurich Ins CEO: strategy doesn't depend on acquisitions
Thursday, 9 Feb 2017 04:09am EST 

Zurich Insurance CEO says : position on M&A is our strategy does not depend on acquisitions . focusing on organic growth Further company coverage: [ZURN.S] (Reporting by Brenna Hughes Neghaiwi) ((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;)).  Full Article

Zurich Insurance CEO says no target on job cuts
Thursday, 9 Feb 2017 04:05am EST 

Zurich Insurance CEO Mario Greco says : not going to target any specific number of job cuts through 2019 . will be very hard to create new jobs in next years Further company coverage: [ZURN.S] (Reporting by Brenna Hughes Neghaiwi) ((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;)).  Full Article

Zurich Insurance CEO says cautiously optimistic for 2017
Thursday, 9 Feb 2017 03:00am EST 

Zurich Insurance : CEO - 2017 is turning into possibly a better financial year, cautiously optimistic, see signs economies are turning for the better Further company coverage: [ZURN.S] (Reporting by Brenna Hughes Neghaiwi) ((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;)).  Full Article

Zurich Insurance proposes Catherine P. Bessant to join board of directors
Wednesday, 8 Feb 2017 11:50am EST 

Zurich Insurance Group Ag says : proposes Catherine P. Bessant for election to board of directors . election will take place at the Annual General Meeting on March 29, 2017 . Bessant has been Chief Operations and Technology Officer at Bank of America since 2010 . all the current board members will stand for re-election for another one-year term Further company coverage: [ZURN.S] (Reporting By Zurich newsroom) ((zurich.newsroom@thomsonreuters.com; +41 58 306 7336;)).  Full Article

Cover-More Group intends to declare special dividend
Thursday, 2 Feb 2017 05:14pm EST 

Cover-more Group Ltd : Intends to lodge a draft scheme booklet in relation to the proposed acquisition of all of the shares in Cover-More by Zurich . Scheme booklet is expected to be dispatched to Cover-More shareholders on or around Friday, 24 February . Under SIA, cover-more is permitted to declare and pay an interim and/or special dividend of up to A$0.05 per share . If scheme proceeds and special dividend is declared, cover-more shareholders will receive scheme consideration of $1.90 cash per share .No interim dividend will be declared for FY2017.  Full Article

More From Around the Web

Fitch Affirms Zurich Insurance Company IFS at 'AA-'; Outlook Stable

(The following statement was released by the rating agency) FRANKFURT/LONDON, May 24 (Fitch) Fitch Ratings has affirmed Zurich Insurance Company's (ZIC) Insurer Financial Strength (IFS) Rating at 'AA-' and Long-Term Issuer Default Rating (IDR) at 'A+'. The Outlooks are Stable. ZIC is the main operating company of the Zurich Insurance Group (ZIG). A full list of rating actions is available at the end of this commentary. KEY RATING DRIVERS The affirmation reflects ZIG's very strong business profil