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Zurich insurance group Ltd is one of the most versatile Insurance Companies in the world which was founded in 1872. It is a Swiss insurance company with its headquarters in Zurich Switzerland, and the country’s largest insurer. In 2011 it was ranked 94th in Interbrand’s top 100 brands and as of 2021, the company is the world’s 112th largest public company according to Forbes Global 2000s list.

 Its main line of business includes life as well a non life insurance policies, pensions and investments. There are also other products in its website in www.zurich.com.

Their main mission is to protect the people and things they love because they value their knowledge, expertise and financial stability. Zurich is a leading multi-line insurance company that provides world class customer services to its customers in global and local markets. With about 56,000 employees, about 395.342 dollars and 31.802 billion dollars in revenue and equities respectively with Michel Lies as Chairman and Mario Greco as CEO.

Zurich insurance’s customer base include individuals, small, mid-sized as well as large companies, and multinational corporations. They provides a good range of insurance products like property and casualty, life insurance products and services etc in more than 210 countries of the world. Zurich insurance employs 55,000 people, with customers in 215 countries and territories


The Zurich insurance as worldwide insurance company has three core business segments.

  1.  General Insurance,
  2. Global Life insurance and;
  3.  Farmers insurance.


Zurich insurance has undergone three main stages of growth and they include; Zurich insurance company 1872-1996, Zurich financial services 1998-2012 and Zurich insurance group 2012  till date

Zurich Insurance Company

The company was initially founded as a reinsurance company in 1872 under the name of “Versicherungs-Verein” and at the request of the “Schweiz” transport insurance company founded in 1869 on the initiative of the “Schweizerischen Kreditanstalt”. A then subsidiary of the Schweiz Marine Company. The founders are people who were also board members of the “Schweiz” Transport Insurance Company.

The company’s business activity began on 1 May 1873.

In 1875 the company included accident insurance to its insurance products. And it haad its name changed to Transport- und Unfall-Versicherungs-Actiengesellschaft “Zurich”.

In 1880 the company jettisoned marine business following a significant loss in the business

Zurich Insurance company Business Expansion

Through 1894, the company secured licenses to do business in Denmark,  Austria,  Prussia, Sweden, Norway and including the rest of France, Germany, the Netherlands, Spain, Belgium, Poland, Russia, Luxemburg, Liechtenstein and Italy.

Similarly and as result of the changes in 1894 from transport insurance to liability and accident insurance, the company changed its name to “Zurich” “Allgemeine Unfall- und Haftpflicht-Versicherungs-Gesellschaft”.

In 1912, the company equally expanded its business to the states in north America particularly in the state US states of Illinois, new York, Massachusetts and New Jersey.

In 1915 Zurich acquired its first whole company, “Hispania Compañia General de Seguros” of Barcelona in Spain. And in ten years down the line specifically in 1922, the company founded “Vita Lebensversicherungs-Gesellschaft” as its independent subsidiary. The Latter later expanded into neighbouring countries with the establishment of a branch in UK and Canada.

 In 1925, Zurich achieved another fit by becoming the official insurer of all new ford vehicles in Britain.

Others are

In 1929 “Zurich Fire Insurance Company of New York” was formed followed by the reinsurance company Turegum in 1938 and the “American Guarantee and Liability Company in New York” in 1939.

Within 1955 and 1976, Zurich acquired several companie, including the “Commonwealth General Assurance Corporation” in Sidney, “La Chilena Consolidada”, and “Seguros de Vida” Chile and “Seguros Chapultepec” in Mexico. “Minerva Group” in Italy, “Iguazù Compañia de Seguros S.A.” in Buenos Aires. “Universal Underwriters” in Kansas City, Fire and Marine Insurance Company”in Nebraska, “Fidelity and Deposit Company” in Maryland,  “Anglo Americana de Seguros Gerais” in Sao Paulo, “Centre Reinsurance Holding” in Bermuda, “La Chilena Consolidada”, and “Seguros de Vida” Chile

 Zurich acquired, Zurich acquired 80 percent of “Kemper Corporation” and 97 percent of “Kemper Financial Service” In 1996 and in 1997 acquired a majority interest in “Scudder, Stevens & Clark” with its base in New York.

Subsequently, there is a merger between Kemper and Scudder to form “Scudder Kemper Investments”. And which was later rename “Zurich Scudder Investments”,

on September 24, 2001, Zurich Financial announced it would sell Zurich Scudder, which then had US$370 billion assets under management, to Deutsche Bank for US$2.5 billion (US$1.2 billion in cash and the rest in assets). The transaction was closed on April 5, 2002.

Zurich Insurance forms Zurich Financial Services.

In September 1998, Zurich and the financial division of British American Tobacco came together to form “Zurich Financial Services”. The composition of this was the Swiss company “Zurich Allied AG” and the British company “Allied Zurich plc”. And in 2002, Zurich Financial services’ focus on insurance-related financial products and services. In July 2011, Zurich went into agreements for a long-term alliance with “Banco Santander SA” (Santander) over 25 years in Latin America

Zurich Insurance Group

In April 2012, Zurich Financial Services Ltd changed its name to Zurich Insurance Group Ltd. In December 2015, the CEO Marthin Senn resigned while Interim chairman Tom de Swaan took over as acting CEO of the Company. Furthermore and in 2016, the compan. Furthermore and in 2016, the company employed Mario Greco, the then CEO of Generali as its next Chief Executive.

In November 2021, Zurich signed an acquisition agreement with Texas-based Special Insurance Services.

Finally, on 3rd day of January 2022, Zurich Insurance Group’s Italian subsidiary, Zurich Investments Life S.p.A. sold its life and pension back book to the Portuguese insurer and wealth management platform GamaLife- Companhia de Seguros de Vida, S.A (GamaLife), for an undisclosed sum. However, Zurich in the transaction is estimated to have release approximately $1.2bn worth of capital.

In March 2022, Zurich Insurance Group discarded its logo -a white Z in a blue circle as a result of the fact that the symbol was already being linked with the Russian invasion of Ukraine


General Insurance

Zurich insurance’s general insurance business operates to provide individuals, small and Farmers insurance medium-sized businesses and major multinational corporations with some insurance policies such as home, motor, home, commercial products insurance services.

Global Life insurance

Zurich’s Global Life insurance business offers life insurance, savings plans, investment, and pension products. In the US, life insurance comes from Zurich American Life Insurance Company.

Zurich farm insurance business

Zurich’s Farmers Insurance provides farmers with in Farm Management Services, which provides non-claims related management services. Zurich also owns the Farmers RE business which includes reinsurance assumed from the Farmers Exchange by the Group.

Property and casualty insurance business

Zurich insurance group purchased a property and casualty insurance from MetLife for US$3.6 billion in the year 2020. This acquisition brought the company into property and casualty insurance business.


Zurich insurance has always been taking in a lot of community service. For instance, since 1972 Zurich Community Trust has donated over £60 million for the purpose of curtailing pertinent social issues. It has also supported over 600 charities on a yearly basis  and has as such has effected many lives positively. It is for these core corporate social responsibility that in 2009 it received Charity Times “Best Insurance Services. And was equally among the shortlists for the same award in 2010.

Similarly and in 2012, its subsidiary (Zurich Community Trust (UK)) received an award of the Cross Sector Partnership of the Year Award for its partnership with the treatment charity Addaction.

There is also the Zurich Foundation’s mission with the aim of helping individuals and communities understand and manage risks.

Zurich insurance is a company with corporate social responsibility as one of its key objectives. And as such began a relationship with SBT, a disaster relief organization with its headquarters in New Orleans. This is at Zurich Classic golf tournament in New Orleans. And as a result and over the last five years, more than 1,000 Zurich employees, brokers, customers, and distributors volunteered with SBP to rebuild homes in New Orleans, Staten Island and Joplin. In April 2014, the company  announced a donation that its Z Zurich Foundation would a $3 million grant over three years to SBP. 

The essence of this grant is towards creating a Disaster Resilience and Recovery Lab. This is where they will be teaching of disaster relief best practices. There are a lot more social responsibility initiatives of Zurich insurance which we have not included here. However, we hope to do so in our next article


In conclusion, if you want the best practicable protection for whomever or whatever you ascribe value to. Then, Zurich insurance is in the business of helping you understand and protect yourself from risk. You may visit their website above to find out how they can help you to manage the risks you face. And thereby making your life more secure and enabling you to grow your business.

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