Reinsurer Swiss Re promoted David Cole to finance chief and raised its payout to shareholders after an unexpected rise in annual profit, taking the sting out of falling prices for new business.
Zurich Insurance missed profit expectations in the fourth quarter due to restructuring charges, and said the total cost of an overhaul of its business would be about $600 million - the upper end of its forecast range.
Zurich Insurance, rocked by the suicide of its finance chief less than three months ago, said on Thursday it would miss a year-end profitability target in its largest unit General Insurance.
Zurich Insurance said on Monday its finance chief Pierre Wauthier was not subjected to "undue pressure" before he committed suicide and its chairman admitted he was unable to explain the motivation for his tragic decision.
By rolling out television, print and billboard marketing campaigns on Monday, Zurich Insurance is aiming to advertise business as usual after a suicide and resignation in the Swiss insurer's top ranks.
By rolling out television, print and billboard marketing campaigns on Monday, Zurich Insurance is aiming to advertise business as usual after a suicide and resignation in the Swiss insurer's top ranks.
According to sources, former Zurich CFO Pierre Wauthier and former chairman Josef Ackermann disagreed on the company's message to investors before presenting second-quarter results.
According to sources, former Zurich CFO Pierre Wauthier and former chairman Josef Ackermann disagreed on the company's message to investors before presenting second-quarter results.
Zurich Insurance Group cautioned that it would be challenged to meet certain performance targets after posting a 27 percent fall in second-quarter net profit due to natural disaster payouts.
Zurich Insurance Group cautioned that it would be challenged to meet certain performance targets after posting a 27 percent fall in second-quarter net profit due to natural disaster payouts.