Zurich
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The process for the legacy book is believed to be in the late stages. -
The strategic investment supports Icen’s international ambitions.
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The executive said the firm had to focus time and investment on the most meaningful projects.
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The carrier pegged its California wildfire losses at $200mn pre-tax.
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The appointment is a “major part” of Zurich’s global strategy, the company said.
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The carrier is seen as a likely target of Lloyd’s ‘Big Game Hunting’ strategy.
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The sale of the business was confirmed in June.
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CEO Mario Greco said his future retirement had nothing to do with bringing the plan forward.
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The company is on track to exceed its targets for 2023-25 one year ahead of schedule.
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Greco will likely remain in place in the medium-term, which could mean major M&A and a Lloyd’s platform.
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The carrier has pegged preliminary pre-tax Milton losses at less than $200mn.
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Bradley Haimes will leave Zurich after more than a decade with the carrier.
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