Zurich confirms reinsurance turn after large losses

In a potential boon for the facultative market, beleaguered insurance group Zurich confirmed this week it will look to increased use of reinsurance for its non-life unit, after issuing a fourth quarter profits warning.

Zurich said it had continued to experience a very high level of large current accident year losses in the fourth quarter related to a large credit and surety loss, as well as several significant property claims that principally impact its global corporate segment.

via InsideFac (subscription required)

Zurich confirms reinsurance turn after large losses

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