Zurich Insurance
 |
|
| Aktiengesellschaft | |
| Traded as |
SIX: ZURN OTCQX: |
| Industry | Financial services |
| Founded | 1872 |
| Headquarters | Zürich, Switzerland |
|
Key people
|
Tom de Swaan(Chairman) Mario Greco, CEO |
| Products | Life and non-life insurance, pensions, investments |
| Revenue |
 US$ 67.245 billion (2016)
|
| Total assets |
US$ 382.679 billion (2016)
|
| Total equity |
 US$ 32.473 billion (2016)
|
|
Number of employees
|
53,894 (2016) |
| Website | www.zurich.com |
Zurich Insurance Group Ltd. (SIX: ZURN) is a Swiss insurance company, commonly known as Zurich, headquartered in Zürich, Switzerland. The company is Switzerland's largest insurer. As of 2015, the group was the world's 78th largest public company according to Forbes' Global 2000s list, and in 2011 it ranked 94th in Interbrand's top100 brands.
Zurich is a global insurance company which is organized into three core business segments: General Insurance, Global Life and Farmers. Zurich employs around 60,000 people serving customers in more than 170 countries and territories around the globe. The company is listed on the SIX Swiss Exchange. As of 2012 its capital position was strong, with shareholders' equity of $34.494 billion.
The company was founded in 1872 as a marine reinsurance under the name "Versicherungs-Verein" (Insurance Association), a subsidiary of the Schweiz Marine Company. In 2000, after a number of acquisitions, it was unified to form one holding company – Zurich Financial Services.
In April 2012, Zurich Financial Services Ltd changed its name to Zurich Insurance Group Ltd. In a statement the Group explained the rationale behind the name change. "In recognition of this strategic focus, the reference to financial services in the company name has been replaced by indicating the insurance activity of the Group instead and to specify the purpose accordingly."
In December 2015, the group's CEO Martin Senn (who committed suicide on May 27, 2016) announced his resignation. Despite years of highly profitable business operations the focus was put on recent events which forced Mr. Senn to step down. Ad-Interim Chairman Tom de Swaan took over as acting CEO.
On 26 January 2016, it was announced that Zurich had poached Mario Greco, CEO of Generali as its next chief executive, and that he would start on 1 May.
Zurich's General Insurance business serves individuals, small and medium-sized businesses and major multinational corporations with motor, home, and commercial products and services.
Zurich's Global Life business offers life insurance, savings, investment and pension products. In the United States life insurance is issued by Zurich American Life Insurance Company with offices in Schaumburg, Illinois and New York City.
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Wikipedia