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Swiss Life surprises the market, posting a 30% profit rise in the first half of 2013.

The insurer, Swiss Life, earned a significantly improved profit of 472 million CHF for the first six months of 2013, up from 365 million CHF posted in the first half of 2012. This came as a surprise as analysts had previously predicted a profit of 368 million CHF in a poll conducted by Swiss financial newswire AWP. These results have been attributed the strong results in part to successful investments, …Read More

Nine global insurers set to face tighter regulations

Several global insurance companies are facing tighter regulations and potentially higher capital requirements as regulators have concluded that they are critical to the global financial systems. Originally causing upset amongst the nine insurance companies named, many of whom hit out against the plans claiming an unfair comparison to the banking industry, these regulations are designed to be the first step in addressing the risks associated with significant financial organisations. Changes …Read More

Swiss Re estimates industry losses from the recent flooding of between $3.5 billion and $4.5 billion

The destructive and shocking floods that hit central and Eastern Europe last month has been estimated to have caused between $3.5 billion and $4.5 billion in damages, according to a statement made by Swiss Re. Water-levels rose causing floods in parts of Germany, the Czech Republic, Austria, Hungary, Slovakia etc. in late May and June. Swiss Re has said that they are expecting to receive claims up to the amount …Read More

Baloise to close two offices in Germany

Over the next four years the insurance company, Baloise, will cut a total of 400 jobs by closing two branches of its subsidiary Basler Versicherungen in Germany. This is in an effort to cut costs and re-focus their areas of growth. Sources: http://www.baloise.com/en/investorrelations http://www.insuranceinsight.com

The Power of One Word

I have been reading PwC’s Gender Agenda for several months; the blogs are not only insightful, but passionate and considered. In this article, Aoife references a study conducted by the Harvard Business School (which was also referenced in Sheryl Sandberg’s “Lean In”). In this study two groups of students were given an identical case-study in which an entrepreneur utilised their network to achieve success. There was only one difference between …Read More

Interesting hiring tips

Over the past few weeks I have been following Joel Petersons hiring tips (Top 10 HIring mistakes) on LinkedIn. Although some of the suggestions seem obvious I believe they are worth remembering and he raises some interesting points; the articles are well worth a read. This week was Number 4: Interviewing on Autopilot. http://www.linkedin.com/today/post/article

From Bermuda to Switzerland – Tokio Millennium Re’s new HQ

In a move to gain greater access to the European reinsurance sector, Tokio Millennium Re (TMR) has announced that they are re-domesticating their place of incorporation from Bermuda to Switzerland. This is part of a long-term grow strategy which includes establishing an operation in the US next year. They have had a branch established in Switzerland since 2010 and is targeted to become the company’s new HQ in October of …Read More

High Risk and Low Rates

High Risk and Low Rates – Zurich Insurance is opening up to riskier investments Zurich Insurance reported last Thursday that the group’s profits had fallen by 7% for the first quarter. Martin Senn (Chief Executive, Zurich Insurance) stated that they were on track to meet targets and blamed the poor return on persistently low interest rates. By Friday, Pierre Wauthier (Chief Financial Officer, Zurich Insurance) was announcing plans to offset …Read More