Zurich Insurance Group Ltd. is a Swiss insurance company headquartered in Zurich and the largest insurer in the country. [2] As of 2021, the Group is the 112th largest publicly traded company in the world according to Forbes` Global 2000s list,[3] and ranked 94th in Interbrand`s top 100 brands in 2011. [4] “You” refers to you as a current or potential individual customer or visitor to this Site. Companies or other legal entities are not affected. “We” or “us” means Zurich Insurance Company, a company incorporated in Switzerland, and not any other legal entity. Zurich is a global insurance company divided into three main business segments: general insurance, global life insurance and farmers. Zurich employs 55,000 people with customers in 215 countries and territories. [5] The company is listed on the SIX Swiss Exchange. In 2012, its equity stood at $34.494 billion. [6] The company was founded in 1872 as a reinsurance company under the name “Versicherungs-Verein” and at the request of the transport insurance company “Schweiz” (founded in 1869 on the initiative of the “Schweizerische Kreditanstalt”), a subsidiary of the Swiss Marine Company. It was founded by people who were also members of the board of directors of the transport insurance “Switzerland”. [7] In 1925, Zurich became the official insurer for all new Ford vehicles in Great Britain.
The Zurich Fire Insurance Company of New York was founded in 1929, the Turegum Reinsurance Company in 1938 and the American Guarantee and Liability Company in New York in 1939. [8] On the initiative of the “Vita Lebensversicherungs-Gesellschaft”, the first Vita Parcours (health pathways) were established in Switzerland in 1968 and ZIM (Zurich Investment Management) was founded in 1990 as an investment management partner for buyout funds and institutional investors in Switzerland. As part of a new brand strategy, “Vita” became the life insurance company “Zurich” in 1993, which operated on the market under the name “Zürich Leben”. If the name “Vita” has disappeared from the market, it lives in the “Vita Parcours Foundation”, outsourced in 1994. In 1994, “Zurich” took over the Zurich private bank “Rüd, Blass & Cie”. Due to the reorientation towards insurance activities, the private bank was sold again in 2003. [10] Between 1955 and 1976, several companies were acquired, including the Commonwealth General Assurance Corporation of Sydney, Iguazù Compañia de Seguros S.A. of Buenos Aires, Empire Fire and Marine Insurance Company of Nebraska, Fidelity and Deposit Company of Maryland, Universal Underwriters of Kansas City, Anglo Americana of Seguros Gerais of São Paulo, Minerva Group of Italy.
Reinsurance Holding Centre of Bermuda, La Chilena Consolidada, Seguros de Vida of Chile and Seguros Chapultepec of Mexico. [8] In September 1998, Zurich and the finance department of British American Tobacco merged to form Zurich Financial Services. These include the Swiss company “Zurich Allied AG”[12], listed on the Swiss Market Index, and the British company “Allied Zurich plc”, listed on the FTSE 100 (dual-listed company). In 2000, the structure was reorganized under Swiss company law under a single holding company. All old shares have been replaced by new shares of the new company “Zurich Financial Services” (ZFS), listed on the SIX Swiss Exchange in Zurich and listed on a secondary level in London. In 2002, ZFS focused on insurance-related financial products and services. ZFS returned to profitability in 2003, reporting that it met its targets and made a profit of $2.1 billion, compared with a loss of $3.4 billion the previous year. Operating profit rose 93% to $2.3 billion, marking the turnaround. Zurich remained on track in 2004 with a net profit of $2.5 billion and an operating profit of $3.1 billion, an increase of 36% over the previous year. Zurich`s net income increased by 30% to $3.2 billion in 2005 and operating income by 32% to $3.9 billion. Zurich Financial Services reported net income of $3 billion in 2008, compared to a record $5.7 billion the previous year. In 2019, the local branch of Zurich Insurance Group was one of four insurance companies fined by the Portuguese competition authority AdC for “antitrust practices” related to workers` compensation, health and motor insurance.
[44] We also care about your children`s privacy and are committed to protecting them. This website is not directed to minors and does not knowingly collect personal information from anyone under the age of 16. In most cases, any personal information about minors we may have has been provided to us by parents or guardians.