November 7, 2017 / 5:03 PM / 12 days ago

Zurich to transfer German medical malpractice book to Catalina

ZURICH, Nov 7 (Reuters) - Zurich Insurance Group unit Zurich Insurance plc has agreed to transfer its German legacy medical malpractice book to Catalina Insurance Ireland DAC, the Swiss insurer said on Tuesday.

The portfolio represents reserves of around $450 million as of the end of 2016, it said, calling it another step to reduce risk and free up capital from non-core operations. It said the transaction was expected to have a small positive impact on capital and earnings upon completion. (Reporting by Michael Shields, editing by David Evans)

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