The move comes after certain investors suggested leadership overhaul at the insurer.
The insurer expects earnings hit of approximately $137 million pre-tax in the third quarter of 2021.
The appointee is said to be ‘among the best in his field’; he will help the brokerage expand its business.
The deal is a part of Zurich's wider retail growth strategy, and provides strategic diversification to its portfolio.
The pandemic has challenged not just small businesses but also their insurers. Both have shown adaptability and resilience which will continue to be needed as the economy recovers, says Markel’s Matt Huels.
While rates continue to move in the right direction, they still have some way to go to become sustainable in the context of many challenges. That is the view of John Scully and Marco Sordoni of UnipolRe, who spoke to Monte Carlo Today.
Despite recent rate increases and positive sentiment in the industry, reinsurers’ returns could still be underwhelming, leading to longer-term upward pressure on rates, Stuart Shipperlee, managing director, Litmus Analysis, told Monte Carlo Today.
The time has come for the industry to take full advantage of the technology offerings available, according to the CEO and managing partner of Gossmann & Cie.
Wildfires have increased markedly in recent years, particularly in the state of California. With little historical data available to model the new risk, how are carriers grappling with providing cover in a market which is suddenly one of the riskiest out there?
Wildfires have emerged as one of the most significant problems facing the re/insurance industry, with the events becoming increasingly frequent and damaging and few options immediately available to tackle the issue.