Zurich
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In the US, growth was driven by property and motor lines, while Brazil and Mexico contributed most to the Latin America region’s growth. -
The (re)insurer has proposed the acquisition of a 51% stake in Kotak Mahindra General Insurance Company for $488mn.
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The top five insurers on the continent maintained their ‘clear dominance’ in terms of scale.
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Dirk De Nil will step into the role following the retirement of Hanno Mijer, who has been CEO of Zurich Resilience Solutions since its inception in 2021.
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Plus the latest people moves and all the top news of the week.
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The commercial insurance CEO said carriers must communicate on the reasons for ongoing rate increases as the market bifurcates.
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The carrier's combined ratio in P&C operations rose by 1.3 percentage points over the period, to 92.9%.
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The Association of British Insurers has also appointed Clare Bousfield, CEO of retail and savings at M&G, as deputy president.
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Analysts claimed the relative lack of transparency will allow carriers to earn higher margins for longer.
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Growth was mainly driven by rate increases, with North America accounting for 50% of P&C expansion.
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The trade body is in crisis following a string of misconduct allegations, including alleged rape.
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Beneva has signed up to net-zero targets as a member of the NZIA, following a period of turbulence in which Munich Re, Zurich and Hannover Re have left the alliance.
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