Private legal protection insurance offers you legal protection for On the initiative of Vita Lebensversicherungs-Gesellschaft, the first Vita Parcours (health pathways) in Switzerland were founded in 1968 and ZIM (Zurich Investment Management) was founded in 1990 as an investment management partner for old-age 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] Zurich Ireland is a wholly owned subsidiary, officially known as Zurich Insurance plc (« ZIP »). ZIP is an Irish insurance company, originally established in 1950, which is the main legal entity of Zurich Insurance Group for underwriting non-life insurance activities in Europe. ZIP underwrites non-life insurance business throughout the European Union through its Irish head office and branch network. [24] Orion Legal Expenses Insurance provides the right coverage for people who want to protect themselves in non-road disputes. Whether plaintiff or defendant, solution-oriented legal experts are at your disposal for an annual premium starting at CHF 180.- (youth rate), full price CHF 230. Zurich Insurance Group Ltd.
(« Zurich ») is listed on the SIX Swiss Exchange under the symbol ZRN. As of December 1, 2012, there were 148,300,123 fully paid-up registered shares[6] and 124,847 shareholders. [35] 24.7% of registered shares were individuals (15.3% of all shares outstanding), 7.2% were foundations and pension funds (4.5% of all shares outstanding) and 68.1% were other legal entities (42.3% of all outstanding shares). By 1894, it had acquired licenses to operate in Austria, Prussia, Denmark, Sweden, Norway, the rest of Germany, France, Belgium, the Netherlands, Spain, Poland, Russia, Italy, Luxembourg, and Liechtenstein.[35] When it switched from transport insurance to accident and liability insurance in 1894, it was renamed « Allgemeine Unfall- und Haftpflicht-Versicherungs-Gesellschaft ». Due to legal regulations in the field of workers` compensation, it took a risk and entered the North American market in 1912, first in the U.S. states of New York, Illinois, New Jersey and Massachusetts. [8] In 1915, Zurich acquired its first entire company, the « Hispania Compañia General de Seguros » from Barcelona, Spain. Ten years later, in 1922, Zurich founded the « Vita Lebensversicherungs-Gesellschaft » as an independent subsidiary, which quickly expanded to neighbouring countries. In addition, a branch was established in the United Kingdom as the first foreign insurance company. A year later, another subsidiary was founded in Canada. [9] In 1925, Zurich became the official insurer of all new Ford vehicles in 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] 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] In December 2020, Zurich Group acquired MetLife`s property and casualty insurance segment for $3.6 billion. The acquisition, combined with a 10-year collaboration agreement between Farmers and MetLife, will be funded by the Zurich Group to the tune of $2.43 billion, with the remaining $1.51 billion contributed by Farmers. [23] In December 2015, CEO Martin Senn (who committed suicide in May 2016) announced his resignation. Despite years of highly profitable operations, the focus has been on recent events that forced Senn to resign. Acting Chairman Tom de Swaan [nl] has taken over as interim CEO.
[16] The 3. In January 2022, Zurich Insurance Group announced that its Italian subsidiary Zurich Investments Life S.p.A. had agreed to sell its pension portfolio to Portuguese insurer and asset management platform GamaLife – Companhia de Seguros de Vida, S.A. (GamaLife) for an undisclosed amount. Zurich said the deal is expected to unlock about $1.2bn (£907m, €1bn) of capital. [18] [19] Zurich`s insurance business provides products and services to personal, small and medium-sized businesses and large multinationals by offering automotive, residential and commercial products and services. At Group level, the Z Zurich Foundation`s mission is to help individuals and communities understand and manage risk by leveraging Zurich`s core competencies as an insurer. Zurich achieves this goal through long-term partnerships with selected non-profit organizations such as Practical Action, the Rainforest Alliance and the International Federation of Red Cross and Red Crescent Societies. [29] Zurich`s Farmers Insurance segment includes Farmers Management Services, which provide claims free management services to Farmers Exchanges (which are not owned by Zurich). Zurich also owns the Farmers RE business, which includes the reinsurance taken over by the Farmers` Exchange Group.
Zurich Farmers Insurance Group is the third largest insurance group in the United States. [22] In March 2012, Zurich reinforced its commitment to the Z Zurich Foundation with a substantial investment of $100 million. [33] Zurich Insurance Group Ltd. is a Swiss insurance company based 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. In 1950, it acquired a stake in the « Companhia de Seguros Metrõpole S.A. » in Lisbon.[4] « The entire anti-competitive system was a deliberate smokescreen by several insurance players to artificially inflate premiums and pay unreasonable commissions to those who negotiated the transactions. » The states included in the colony were Texas, California, Florida, Hawaii, Maryland, Massachusetts, Oregon, Pennsylvania, and West Virginia. Zurich is also required to reimburse approximately US$122 million[37] to commercial policyholders in a New Jersey class action lawsuit[38]. Zurich Financial Services entered into an offer agreement and an ineligible finite reinsurance transaction. [39] Zurich Financial agreed to pay $153 million in compensation and penalties and agreed to a number of reforms.
Zurich apologized, acknowledging that « some of its employees violated both acceptable business practices and Zurich`s own standards of conduct by engaging in inappropriate bidding practices and the `finished reinsurance operations` described in the termination insurance. » The states included in the colony were New York, Connecticut and Illinois.