This will enable NRIs and global investors to access the vibrant Indian market with ease, the statement today (14 January) said.

It will also offer India-based clients access to global markets for portfolio diversification. This move strengthens ASK’s commitment to delivering tailored, innovative wealth management solutions on a global scale.

Rajesh Saluja, Co-founder, CEO & MD, ASK Private Wealth, said: “The launch of our DIFC office underscores ASK’s commitment to scaling our international footprint. The Indian diaspora has global ambitions, and we would like to partner them in their outreach.

“This move will enable us to offer overseas investors a gateway to India’s dynamic markets while supporting Indian clients in diversifying globally.”

Prateek Pant, market head for Middle East & Africa, ASK Wealth Advisors (DIFC) Pvt Ltd, added: “Dubai’s strategic location and robust financial ecosystem make it an ideal base to connect investors in Middle East & African markets with India’s compelling growth story. Through ASK DIFC, we aim to provide professional clients in these regions with diverse wealth solutions backed by ASK’s legacy of excellence and innovation.”

Salmaan Jaffery, chief business development officer, DIFC Authority, said: “We would like to extend a warm welcome to ASK Wealth Advisors to DIFC. ASK joins the Centre at an exciting time – a period during which we are seeing unprecedented global inflows of private capital as well as of wealth and asset managers to Dubai, making it the centre of gravity for wealth in the Middle East. The opportunities available to ASK from DIFC are endless, and we would like to thank them for choosing us as their new home in the region.”

The deal makes Zurich one of the largest travel insurers globally.

Cara Morton, CEO Zurich Global Ventures said: “This acquisition significantly boosts our travel insurance capabilities and amplifies our global footprint. By welcoming Travel Guard into Zurich Cover-More, we aim to deliver unmatched services and protection to our customers worldwide that go beyond traditional travel insurance and assistance.”

Travel Guard is combined with Zurich’s travel insurance provider, Cover-More Group, under the new corporate brand Zurich Cover-More.

Zurich Cover-More’s subsidiaries, including Travel Guard, Travelex Insurance, Cover More Travel Insurance, World Travel Protection, Blue Insurance, and Universal Assistance, will continue to operate under their brands in their local markets.

Zurich Cover-More will establish its new headquarters in the US under the leadership of chief executive officer David Fike and have regional units in Latin America, North America, Asia Pacific, as well as Europe, Middle East and Africa (EMEA).

This acquisition expands Zurich’s footprint in a global market worth about $20bn in gross written premiums and significantly strengthens its presence in the US market. Zurich now serves more than 20 million customers annually and maintains long-term relationships with more than 200 distribution partners.

The transaction has impacted Zurich’s Swiss Solvency Test (SST) ratio by 5 percentage points. All necessary regulatory approvals have been obtained.

In a statement today (21 November), the global financial services group spelled out its new financial targets for 2025–2027, namely a core return on equity (ROE) of more than 23%, core earnings per share (EPS) compound annual growth rate of more than 9% and cumulative cash remittances in excess of $19bn.

To deliver these targets, Zurich said it would further strengthen its commercial franchise and mprove Retail profitability and customer loyalty.

The plan will see the business aim to transform life protection into a global business to accelerate its growth. Protection gross written premiums to increase to a compound annual growth rate of 8%, and further growth in capital-light unit-linked business.

Zurich’s protection business, which represents almost 60% of the Life business operating profit, will be consolidated under a single global unit to improve technical excellence in underwriting and pricing, and customer focus.

It would also Support the continued transformation of Farmers to achieve sustainable growth of policies at Farmers Exchanges

Zurich said it is on track to exceed all of its 2023-2025 targets one year ahead of schedule, benefiting from the successful execution of its strategy and a better-than-anticipated market environment.

Over the years, Zurich has grown into a business serving 75 million customers. The Group has significantly invested in Middle Market, Specialties, and travel insurance services.

Digital platforms have been implemented across the Group and Gen AI is already being leveraged at scale by all of its markets, with 541 AI solutions in place and in development to improve performance and simplify customers’ lives.

Zurich has defined new business priorities that build on its unique market position and capitalize on its underwriting expertise to ensure it stays ahead of the market.

Over the past eight years Zurich has delivered an industry-leading total shareholder return of 17%5 per year and distributed more than CHF 28 billion in dividends and share buybacks. Delivery of the new plan targets will support a continued superior shareholder return.

Mario Greco, group chief executive officer said: “Zurich is performing exceptionally well, generating market-leading shareholder returns, but we see new opportunities to accelerate our success story.

“To reflect our growing confidence, we are launching a new three-year plan with the most ambitious targets in Zurich’s history. I’m convinced that we will continue to create significant value for our customers and our shareholders.”

Zurich said its financial targets for 2025–20271 were supported by ambitious business targets including the life protection area covered above.

For commercial insurance, business operating profit is to exceed $4.2bn and Middle Market gross written premiums to surpass $10bn by end of 2027.

Portfolio quality improvement will drive performance supported by actions to strengthen underwriting discipline. Particular focus on Middle Market and Specialties are identified as areas to accelerate growth.

For retail and SME, the plan is to return to a long-term level of profitability and further improve customer loyalty.

Long-term profitability is expected to improve through a combination of strengthened underwriting capabilities across markets,  improvements in the portfolio mix, and by leveraging scale and technology assets.

The customer experience would be enhanced through new initiatives to earn loyalty and drive financial impact. Further, with the announced acquisition of AIG’s global personal travel business, which is subject to regulatory approval and expected to close before the end of the year, Zurich will also become a leading global travel insurer serving more than 20 million customers and 200 distribution partners through regional units around the world.

Farmers exceeded the ambitions set in November 2023 by returning to profitability and improving its capital position. The next phase of its business transformation will grow policies in force and the Farmers Exchange expect sustainable mid-single digit gross written premium growth over the next three years.

Financial results in 2025 will be reported relative to both the current and new plans, Zurich said.

80Twenty marks Foster Denovo’s fifth acquisition in 12 months, becoming the 13th office in its UK-wide presence and the first in the East Midlands. This expansion demonstrates the firm’s commitment to providing high quality advice nationwide across the UK.

The deal means four advisers – Neil Welbury, Jackie Worby, David Catterall and Stuart Annable, along with six support staff – become part of Foster Denovo. With around 120 private clients and a number of high-profile corporate clients, 80Twenty brings in well over half a billion of funds under management and funds under influence.

Foster Denovo chief executive Roger Brosch said: “We’re delighted to welcome Neil, Jackie, David and their fabulous team to Foster Denovo. As we’ve got to know each other throughout this transaction, it’s clear we share an excitement for what a combined future holds.

“Cultural and propositional fit is critical for us and we know the 80Twenty team shares our values and sees the world as we do. We look forward to prospering together as we grow.”

80Twenty Executive Director Neil Welbury said: “80Twenty advises high net worth, financially astute individuals, so any chosen partner had to be able to add value to that dynamic. We are also retained by a number of large corporate clients, and so understanding how that advice process works was also key.

“Foster Denovo have built a reputation in both marketplaces, and so we see them as a natural home for our clients. Also, with the added support and additional services available at Foster Denovo, this will only serve to enhance our proposition further.”

The latest deal comes just a month after the firm bought Rosemount Asset Management in Glasgow to establish an office in Scotland. Previously, the group doubled the size of its employee benefits division, buying Punter Southall’s corporate advisory arm, preceded by the acquisition of wealth managers Wade Financial in Newcastle and Creative Financial Solutions in Hampshire.

Foster Denovo has been recognised for its excellence in developing its employees by being awarded the Investors in People (IIP) platinum accreditation, its highest level achieved by only two per cent of companies who apply worldwide.

Ignyte, which is designed to connect start-ups and founders with investors, mentors, corporate organisations and governments entities, aims to become the go-to platform for 100,000 start-ups and entrepreneurs, connecting them with 5,000 VCs and Angel Investors, 5,000 mentors and experts, and 500 corporate and government partners.

The platform will also feature 5,000 exclusive perks and offers on its Marketplace, delivering total savings of over $100m

Ignyte will also offer digital competitions for start-ups and entrepreneurs through “Ignyte Challenges”.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, Chairman of Dubai Executive Council, and Chairman of the Higher Committee for Future Technology and Digital Economy, formally announced the launch of Ignyte.

Essa Kazim, governor of DIFC, said: “Ignyte represents a significant step forward in Dubai’s digital economy mandate and aligns with a core pillar of DIFC’s Strategy 2030, which is centred around enabling companies to grow faster than the market by focusing on innovation. By providing a global platform for start-ups to connect, innovate, and grow, DIFC is reinforcing Dubai’s position as a leading hub for entrepreneurship and technological advancement.”

Arif Amiri, chief executive officer of DIFC Authority and member of the Dubai Higher Committee for Future Technology and Digital Economy said: “DIFC continues to advance Dubai’s reputation as a global leader for technology and innovation. Ignyte is the latest initiative that demonstrates our unwavering commitment to Dubai’s Digital Economy Strategy which aims double the contribution of the digital economy by 2032. Through Ignyte we will enable start-ups to contribute more to our economy and empower them to play a more significant role in a digitally-driven society.”

The statement further said Ignyte would empower start-ups and founders at every stage of their growth journey, from initial development to global expansion. By providing access to experienced mentors and industry experts who have navigated similar challenges, entrepreneurs can gain invaluable guidance.

Through the platform, start-ups can also connect with potential investors, participate in networking events, and tap into exclusive offers that provide significant cost savings. Ignyte bridges the gap between entrepreneurs and key stakeholders, including corporate organisations and government entities, creating opportunities for collaboration and innovation.

Ignyte also features a growing marketplace that offers exclusive perks and deals tailored for start-ups, ranging from productivity tools, cloud credits to CRMs and services. With plans to expand this selection to 5,000, the AI-powered marketplace provides personalised recommendations, helping start-ups find offers that are not available elsewhere. Additionally, it connects vendors with the start-up community, opening doors to new opportunities in an untapped market.

Additionally, the platform also introduces Ignyte Challenges, a competitive space for data scientists, AI enthusiasts, and innovators to showcase their skills. Ignyte Challenges will feature competitions in cutting-edge sectors such as AI, machine learning, and advanced technology, providing participants with opportunities to collaborate globally. Participants will have the opportunity to engage in AI challenges, with prizes awarded to top performers.

Additionally, investors who are on Ignyte can receive direct pitches from start-ups, enabling them to discover opportunities aligned with their investment criteria. By facilitating community engagement and event participation, the platform connects investors with mentors, entrepreneurs, and corporate leaders, addressing networking barriers and streamlining due diligence processes. This creates a vibrant ecosystem where both investors and start-ups can thrive, bridging gaps in funding and identifying innovative solutions.

Ignyte’s event feature is open to all community members, enabling start-ups to promote their own events and invite both the Ignyte community as well as the public. Members can organise their own events, while also viewing and attending events hosted by others.