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International

Zurich Insurance plans revamp of general insurance unit

November 06, 2015 Reprints

Zurich Insurance Group Ltd. is planning a reorganization of its general insurance unit and has said that it is planning to cut jobs and exit some businesses, reported Bloomberg.

The insurer's general insurance business recorded an operating loss of $183 million in the third quarter of 2015. The insurer is eyeing more reinsurance coverage for the unit and is likely to withdraw from a number of under-performing portfolios.

1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Munich Re names new regional chiefs
3. Tycoon gets death sentence for multi-billion-dollar fraud
4. UAE flash floods likely to be manageable for insurers
5. Chinese drone maker suffers major data breach
6. Inflation drives 10% increase in sum insured for windstorms

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Zurich Insurance plans revamp of general insurance unit

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