Zurich Life Insurance – The same view 103 years later. The name of the “Zürich” insurance company is still printed on the building, but this is where the group’s headquarters are located.
R is the name of the company headquartered in Zurich, the r still stands for the Swiss company (market presence in Switzerland under Zurich) and the parent company headquartered here is now called Zurich Insurance Group.
Zurich Life Insurance
Zurich Insurance Group (Zurich), headquartered in Zurich, is an international Swiss financial services company and the parent company of Zurich Insurance Company. Until March 2012, it was called Zurich Financial Services (ZFS).
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With gross premium income and policy expenses of US$50.998 billion, Zurich is Switzerland’s largest insurance group and the fifth largest group among the world’s largest insurers, operating in 210 countries and territories and employing approximately 55,000 people worldwide.
Zurich Insurance Group ranks 110th on the Forbes 2000 list of the world’s largest public companies (as of fiscal year 2017). The company was valued at around $48 billion in mid-2018.
The company was founded in 1872 as a reinsurance company under the name Versicherungs-Verein by the “Swiss” Transport Insurance Company (founded in 1869 at the initiative of the Credit Suisse Association). It was founded by persons represented on the committee of the “Swiss” transport insurance company.
Opened on May 1, 1873. In 1875, he entered the accident insurance profession. The company is called Transport- und Unfall-Versicherungs-Aktiengesellschaft «Zürich». In 1880, after suffering heavy losses, Zurich gave up its shipping.
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By 1894, he was licensed in Austria, Prussia, Denmark, Schwen, Norway, other German states, France, Belgium, Nierland, Spain, Poland, Russia, Italy, Luxembourg and Liechtenstein. Due to the transition from transport insurance to casualty and liability insurance in 1894, the name “Zürich” was changed to the general casualty and liability insurance company. Due to legal arrangements in the field of workers’ compensation, it entered North American operations in 1912, beginning with New York, Illinois, New Jersey and Massachusetts in the United States.
In 1915, Zurich first acquired the entire company Hispania Compañia General Seguros of Barcelona, Spain. Ten years later, in 1922, Zurich founded an independent subsidiary, Vita Lebensversicherungs-Gesellschaft, which soon expanded to neighboring countries. Set up a UK branch (first overseas insurance company). A year later, another branch was established in Canada.
In 1925 Zurich became the official insurance company for all new Ford vehicles in the UK. In 1929 the Zurich Fire Insurance Company of New York was founded, in 1938 the Turegum Reinsurance Company was founded, and in 1939 the American Guarantee Liability Company was founded.
In 1950, he bought the company r Companhia Seguros Metrõpole S.A. shares. from Lisbon. Five years later, in 1955, Accident and Liability Insurance Company “Zurich” changed its name to “Zurich” Insurance Company, which has remained to this day.
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Several companies were purchased between 1955 and 1976, including Sydney Federal General Insurance Company, Iguazù Compañia Seguros S.A. Buenos Aires, Nebraska Empire Fire and Marine Insurance Company, Maryland Fility and posit Corporation, Universal Unrwriters of Kansas City, Anglo Americana Segur. Minerva Group of Sao Paulo, Italy, Bermuda Center Reinsurance Holding, La Chilena Consolidada and Seguros Vida from Chile and Seguros Chapultepec from Mexico.
The first Vita Parcours (trim-dich-pfa) was founded in Switzerland in 1968 at the initiative of Vita Lebensversicherungs-Gesellschaft, and in 1990 ZIM (Zurich Investment Management) was founded as the leading redemption fund and investment in Switzerland for institutional investors. In 1993, as part of a new branding strategy, “Vita” became a “Zürich” life insurance company, listed under the name Zurich Life. While the name “Vita” has disappeared from the market, it still exists in the Vita Parcours Foundation, which was outsourced in 1994. In 1994, “Zurich” took over the Zurich private bank Rüd, Blass & Cie. The private bank was sold again in 2003 in the course of focusing on the insurance business.
Zurich acquired 80% of Kemper Corporation and 97% of Kemper Financial Service in 1996, and a majority stake in New York-based Scudr, Stevens & Clark in 1997. Kemper then merged with Scudr to form Scudr Kemper Investments.
In the years 1991-2002, Rudolf Hüpp was the CEO, in 1993 he was a member of the Board of Directors and in 1995 he was the Chairman of the Board of Directors. Through his expansion courses, he transformed Zurich Financial Services into a financial group with 70,000 employees.
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In September 1998, Zurich merged with the financial division of British American Tobacco to form Zurich Financial Services. This includes r Swiss Zurich Allied AG, which is listed on the Swiss Market Index, and r British Allied Zurich plc, which is listed on the FTSE 100 (two listed companies). In 2000, the structure was transformed into a single holding company under Swiss company law. All existing shares of the newly created Zurich Financial Services Company (ZFS) will be replaced by new shares, the first of which will be listed on the SWX Swiss Stock Exchange in Zurich and the second in London.
In 2002, ZFS focused on providing financial products and services. ZFS returned to profitability in 2003, reporting that it had hit its target and posted a profit of $2.1 billion after a loss of $3.4 billion the year before. Operating income rose 93% to $2.3 billion; the turn was over.
Zurich stayed on track in 2004 with net income of $2.5 billion and operating income of $3.1 billion, up 36 percent from the previous year.
R Profit r Zurich 2005 increased 30% to $3.2 billion, operating income increased 32% to $3.9 billion.
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Zurich Financial Services posted a profit of $3 billion in 2008, after a record $5.7 billion the previous year.
In July 2011, Zurich announced that it had entered into a definitive agreement with Banco Santanr SA (Santanr) for a 25-year long-term alliance in Latin America.
On February 15, 2012, the group announced that the company name would be Zurich Insurance Group. The name change was approved by 99.4% at the regular general meeting held on March 29, 2012.
An investigation by the Swiss Financial Market Supervisory Authority acquitted Ackerman, saying Wauthier did not exert “unwarranted or unreasonable pressure” on Ackerman or any other decision maker.
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In December 2015, CEO Martin Senn resigned under pressure from the board after the latest business figures were quite disappointing.
Zurich Insurance Group insures the construction of the Nord Stream 2 gas pipeline, which will transport Russian gas to Germany via the Baltic Sea. The insurer abandoned the program in January 2021 to avoid possible US sanctions. The large construction company Bilfinger had previously abandoned the project.
In March 2022, Zurich Insurance Group announced that it would no longer appear on n social media with the m simplified letter logo (a white “Z” in a blue circle) until further notice.
In December 1991, St. Imbert’s subsidiary Ban-Baner Versicherung AG. The company specialized in household insurance products and then began operating as an insurance company. The company was closed in 2017.
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The US market is primarily served by Farmers, the third largest personal and liability insurance company in the US. Founded in 1928, Farmers was acquired by Zurich in 1998 and today operates in 41 countries through a network of 20,000 employees. In July 2009, Zurich acquired US auto insurance division AIG through its Farmers subsidiary.
Headquartered in Chicago, Zurich North America Commercial is the third largest income insurance provider in North America. It mainly offers solutions for small businesses, mid-market and large enterprises. In 2005, Zurich North American Commercial’s gross premiums were $12.5 billion.
In Europe, Zurich is mainly represented in the markets of the United Kingdom, the Netherlands (Zurich Group), Switzerland, Italy and Spain. Other European markets are Austria (Zürich Versicherung Austria), Ireland, Portugal, Turkey and Russia.
Zurich serves clients in more than 170 countries and operates in Europe, North America, Asia Pacific and Latin America.
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General Insurance in Zurich offers auto, home and retail products and services to individuals, SMEs and large multinational corporations.
The Farmers segment comprises Agricultural Management Services, which provides administrative services to (non-Zurich) Farmers Exchanges and Farmers RE companies outside of Zurich, including Farmers Exchanges Group reinsurance. Zurich Farmers Insurance Group is the third largest insurance group in the United States.
Zurich Insurance Group Ltd. offers general and life insurance products for individuals, small and medium-sized businesses and multinationals, such as: auto, home, general liability, life and critical illness insurance, as well as savings, investment, annuity and pension insurance. plans.
Zurich Insurance Group AG (Zürich) is listed on six major Swiss stock exchanges under the symbol ZURN. As of December 31, 2012, 124,847 shareholders owned a total of 148,300,123 fully paid and fully paid registered shares.
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Of these registered shares, 24.7% are owned by private individuals (15.3% of all issued shares), 7.2% are held by foundations and pension funds (4.5% of all issued shares), and 68.1% are held by other legal entities (42, 3% of all shares). issued shares)).
An increase of 3% compared to the previous year and an operating profit of US$ 4.075 billion. The company announced a bonus of 17.00 Swiss francs for the entire year, to be paid out in April 2013.
The company had a solid capital base with a Solvency 1 ratio of 278% as of December 31, 2012 and a Swiss Solvency Test ratio of 178% as of July 1, 2012, significantly exceeding the minimum capital requirements. The strength of Zurich’s balance sheet is reflected in r rating agency n reports
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