Type: Aktiengesellschaft; Traded as: SIX: ZURN; Industry: Financial services; Founded: 1872; 151 years ago; Headquarters: Zürich, Switzerland; Key people: Michel Liès,
Chairman, Mario Greco, CEO; Products: Life and non-life insurance, pensions, investments; Revenue: US$ 69.87 billion (2021) ; Total assets: US$435.826 billion (2021) ; Total equity: US$39.170 billion (2021) ; Number of employees:
56,000 (2021) Company history Zurich Insurance Company (1872–1998) The company was founded in 1872 as a reinsurance company under the name of “Versicherungs-Verein” and at the request of the “Schweiz” transport insurance company (which
was founded in 1869 on the initiative of the “Schweizerischen Kreditanstalt”), a subsidiary of the Schweiz Marine Company.
ZIP is an Irish insurance company originally incorporated in 1950 and is Zurich Insurance Group’s main legal entity for writing non-life insurance business in Europe.
 Zurich Insurance Group (since 2012) In April 2012, Zurich Financial Services Ltd changed back to its original name, Zurich Insurance Group Ltd.
 Zurich is a global insurance company which is organized into three core business segments: General Insurance, Global Life and Farmers.
 In 2015, small business owners and property developers in Britain complained that Zurich’s British subsidiary, Dunbar Bank, had treated them unfairly by calling in loans
quickly in order to wind down its loan book after the parent company pulled out of the specialist UK property market in 2010.
In May 2007, Zurich Capital Markets, a subsidiary of Zurich Financial Services, paid $16.8 million to settle with the United States Securities and Exchange Commission for
helping four hedge funds disguise their identities to avoid detection when making frequent trades in mutual fund shares.
The “Zurich Fire Insurance Company of New York” was founded in 1929, the reinsurance company Turegum in 1938 and the “American Guarantee and Liability Company in New York”
In addition, a branch was established in the United Kingdom (the first foreign insurance company to do so).
 In 2019, the local branch of Zurich Insurance Group was one of four insurance companies fined by Portugal’s competition authority AdC for “cartel practices” regarding
workplace accident, health and auto insurance.
All old shares were replaced by new shares in the newly formed “Zurich Financial Services” (ZFS) with a first listing on the SIX Swiss Exchange in Zurich and a second listing
 Over the next five years, more than 1,000 Zurich employees, customers, brokers, and distributors volunteered with SBP to rebuild homes in New Orleans, Staten Island and
Joplin, until in April 2014, the company announced that its Z Zurich Foundation would give SBP a $3 million grant over three years.
 Zurich Financial Services (1998–2012) In September 1998, Zurich and the financial division of British American Tobacco merged to form “Zurich Financial Services”.
In 1994, “Zürich” took over the Zurich private bank “Rüd, Blass & Cie.” Due to refocusing on the insurance business, the private bank was sold again in 2003.
As part of a new brand strategy, “Vita” became “Zurich” Life Insurance Company in 1993, operating in the market under the name “Zürich Leben”.
Zurich also owns the Farmers RE business which includes reinsurance assumed from the Farmers Exchange by the Group.
 Zurich was one of the first recipients of the Community Mark from Business in the Community which it has successfully retained for three years.
Zurich’s Farmers Insurance Group is the third largest insurance group in the United States.
As a result, it focuses on promoting and sponsoring sporting events such as the Orbea Monegros, and the Orbea Klasika in Bilbao In November 2021, Zurich signed an acquisition
agreement with Texas-based Special Insurance Services.
It was founded by people who were also board members of the “Schweiz” transport insurance company.
 On 3 January 2022, Zurich Insurance Group announced that its Italian subsidiary, Zurich Investments Life S.p.A. had agreed to sell 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.
 In March 2012, Zurich reinforced its commitment to the Z Zurich foundation by making a substantial investment of $100 million.
“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.
Due to legal settlements in the area of workers’ compensation, it took a risk and entered the North American market in 1912, starting in the states of New York, Illinois,
New Jersey, and Massachusetts in the US.
Following the September 11 attacks, on September 24, 2001, Zurich Financial announced it would sell Zurich Scudder, which then had US$370 billion in assets under management,
to Deutsche Bank for US$2.5 billion (US$1.2 billion in cash and the rest in assets).
 According to its website, Zurich Community Trust has donated over £60 million since 1972, with the goal of addressing key social issues.
The purchase, combined with a 10-year cooperation agreement between Farmers and MetLife is financed by Zurich group with US$2.43 billion while the remaining US$1.51 billion
is contributed by Farmers.
 The company is listed on the SIX Swiss Exchange.
 Zurich Spain launched Klinc in 2018, a Spanish digital company that offers online insurance plans for cars, life, home, devices, and micromobility led by Stefano de Liguoro,
Head of Digital at Zurich Seguros.
In 2000, the structure was reorganized under a single holding company under Swiss company law.
ZIP writes non-life insurance business across the European Union through its Irish head office and network of branches.
Global Life Zurich’s Global Life business offers life insurance, savings, investment and pension products.
In 1880 Zurich abandoned the marine business following a significant loss.
 In 1925, Zurich became the official insurer of all new Ford vehicles in Great Britain.
 Core business segments General Insurance Zurich’s General Insurance business serves individuals, small and medium-sized businesses and major multinational corporations
with motor, home, and commercial products and services.
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Zurich Financial Pays $16.8 Million in SEC Fund Probe: “Zurich Capital Markets, a U.S. subsidiary, helped four hedge funds disguise their identities to avoid detection when making frequent trades in mutual-fund shares, a practice called market timing,
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Photo credit: https://www.flickr.com/photos/proflowers/15255964454/’]