ZURICH INS GROUP S/ADR - ZURVY STOCK NEWS

Zurich North America announced the appointment of Christopher M. Lewis as Executive Vice President to lead a new Excess & Surplus (E&S) Lines business unit, effective May 16, 2022. This unit aims to enhance Zurich's E&S strategy by combining customer-centric underwriting with investments in tools and resources. Lewis brings over 30 years of insurance experience, previously serving as President and CEO of International Financial Group. The new unit will better meet the unique needs of its customers and brokers in the E&S market.

Zurich North America is expanding its Apprenticeship Program by partnering with Northeast Iowa Community College and Harold Washington College to provide tailored curriculums for crop insurance apprentices. This initiative aims to recruit 75 apprentices across 16 states, marking the largest cohort since the program began in 2016. Apprentices earn a full-time salary and benefits while pursuing an associate degree in agribusiness or relevant fields, effectively enhancing Zurich's talent pipeline and addressing workforce demands in agribusiness.

Zurich North America has appointed Paul Lavelle as the new Head of U.S. National Accounts, effective April 1, following Paul Horgan's transition to Senior Advisor. Lavelle has extensive insurance experience, having served as Chief Claims Officer since 2018. Meanwhile, Keith Daly will take over Lavelle's role, moving from Farmers Insurance. These leadership changes aim to enhance Zurich's claims services and strengthen its position in the market.

Tobias 'Toby' Cushing has been appointed as the Head of Construction Casualty for U.S. National Accounts at Zurich North America as of March 21, 2022. Cushing, who previously held leadership roles at The Hartford, will enhance customer strategies in the Construction Casualty portfolio. He brings over 12 years of experience, including expertise in underwriting and insurance litigation. Cushing holds a Bachelor of Science in Biology, a Juris Doctor, and a Master of Insurance Law. His role is expected to strengthen Zurich’s position in the construction insurance sector.

Zurich North America is enhancing its Finance and Insurance (F&I) sales distribution strategy by integrating select F&I agencies to expand its reach to auto dealers throughout the United States. This approach will complement its existing direct sales model, improving access to Zurich's F&I expertise and vehicle protection products. The initiative, led by Todd Kaminski, aims to provide auto dealers with better service and innovative solutions. Zurich has been a key player in the P&C insurance market for over 50 years, emphasizing its commitment to growth and customer service.

On February 3, 2022, Zurich North America celebrated its 100-year anniversary serving auto dealerships in the U.S. Originally founded as Universal Underwriters in 1922, it became a leader in Property and Casualty insurance and Finance solutions for auto dealers after being acquired by Zurich in 1981. The company launched initiatives showcasing its history and commitment to innovation, including the "100 Acts of Caring" to support community efforts. Zurich's future focus is on customer service and sustainability while expanding its offerings in the evolving auto industry.

Zurich North America has released key findings from the Global Risks Report 2022, highlighting significant risks facing businesses in the U.S. and Canada over the next two years. Key concerns include potential asset bubble bursts, climate action failures, extreme weather events, debt crises, and employment crises. The report emphasizes that climate change poses the most severe long-term threat to global stability and economic health. More than 12,000 businesses participated in the survey, revealing the urgency for substantial action on climate risks.

Zurich Resilience Solutions (ZRS) in North America has launched a new Diversity, Equity, and Inclusion (DEI) service in collaboration with Inclusion Score. This service is designed to help businesses assess and enhance their DEI practices according to the ISO 30415 standard. As one of the first insurers to offer such a service, ZRS aims to provide a multi-tiered approach that includes assessment, consulting, and training. The initiative responds to increasing business risks associated with inadequate DEI policies, with potential legal impacts and the necessity for organizations to demonstrate commitment to DEI.

Zurich American Insurance Company (ZAIC) announced its agreement to acquire Special Insurance Services, Inc. (SIS), a Texas-based program manager specializing in gap medical and occupational accident insurance. This acquisition, expected to finalize in early 2022, will enhance ZAIC's supplemental health insurance offerings, addressing the growing demand for affordable healthcare solutions amidst rising medical costs. SIS, which serves over 5,000 employers with an annual premium of approximately $55 million, brings valuable expertise in managing specialty insurance products.