How does Zurich continue to do this amidst the swirling global financial storm? I wonder if a strong and well positioned firm like Zurich will acquire any parts of AIG? I hear Schiro has made the firm lean and intends to grow it now.
Great question, Z’s No American HQ’s has cut about half of it’s workforce since 2000 and a few hundred jobs in Chicago. Many jobs went to Bollywood for $7,500 a year compared with $50,000 here, adding to financial turmoil at home.
Must be an error.
What happened to their investment income that they don’t mention and still post these numbers.
Give this some time to sit and you’ll see a retraction.
Foreign based company with a better spread of risk, and investments as well as deciplined underwriting and pricing allowed Z to post these numbers. Won’t see it retracted. Doubtful is just sour grapes :)
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How does Zurich continue to do this amidst the swirling global financial storm? I wonder if a strong and well positioned firm like Zurich will acquire any parts of AIG? I hear Schiro has made the firm lean and intends to grow it now.
Great question, Z’s No American HQ’s has cut about half of it’s workforce since 2000 and a few hundred jobs in Chicago. Many jobs went to Bollywood for $7,500 a year compared with $50,000 here, adding to financial turmoil at home.
Must be an error.
What happened to their investment income that they don’t mention and still post these numbers.
Give this some time to sit and you’ll see a retraction.
Foreign based company with a better spread of risk, and investments as well as deciplined underwriting and pricing allowed Z to post these numbers. Won’t see it retracted. Doubtful is just sour grapes :)
$250 mil Lehman exposure that represented less than 1/10th of 1 percent of their firms investments. Pretty big portfolio.
Do any know of changes in underwriting staffing for Farmers? There are 3 with a 4th UW Servicepoint in Portland planned.