Zurich Allowance Accumulation Ltd. (SIX: ZURN) is a Swiss allowance company, frequently accepted as Zurich, headquartered in Zürich, Switzerland. The aggregation is Switzerland's better insurer. As of 2015, the accumulation was the world's 78th better accessible aggregation according to Forbes' All-around 2000s list, and in 2011 it ranked 94th in Interbrand's top100 brands.
Zurich is a all-around allowance aggregation which is organized into three amount business segments: General Insurance, All-around Life and Farmers. Zurich employs about 60,000 humans confined barter in added than 170 countries and territories about the globe. The aggregation is listed on the SIX Swiss Exchange. As of 2012 its basic position was strong, with shareholders' disinterestedness of $34.494 billion.
History
The aggregation was founded in 1872 as a abyssal reinsurance beneath the name "Versicherungs-Verein" (Insurance Association), a accessory of the Schweiz Abyssal Company. In 2000, afterwards a amount of acquisitions, it was unified to anatomy one captivation aggregation – Zurich Banking Services.
In April 2012, Zurich Banking Casework Ltd afflicted its name to Zurich Allowance Group Ltd. In a account the Group explained the account abaft the name change. "In acceptance of this cardinal focus, the advertence to banking casework in the aggregation name has been replaced by advertence the allowance action of the Group instead and to specify the purpose accordingly.
In December 2015, the group's CEO Martin Senn appear his resignation. Despite years of awful assisting business operations the focus was put on contempo contest which affected Mr. Senn to footfall down. Ad-Interim Chairman Tom de Swaan took over as acting CEO.
On 26 January 2016, it was appear that Zurich had poached Mario Greco, CEO of Generali as its next arch executive, and that he would alpha on 1 May.
Corporate social responsibility
Zurich allowance accumulation is one of the arch companies in the apple which accomplish on a absolutely all-around base with mission to advice its barter by acumen and attention themselves from ambiguous risk. The close has been ranked a part of world’s better accessible aggregation and 94th in Interbrand’s top100 brands, aswell added in the account of top best allowance companies in the apple with $45.4 Billion shareholders equity. Having 60,000 advisers in about 170 countries, the allowance accumulation is accouterment superior casework to its barter with advanced ambit of specialized affairs to firms, individuals, baby business and multi-national companies back 130 years.
In 2009, Zurich was awarded Alms Times Best Insurance Services and was shortlisted afresh in 2010. In 2012 the Zurich Association Trust (UK) won the Cross Sector Affiliation of the Year Award for its affiliation with the analysis alms Addaction.
According to its website, Zurich Association Trust has donated over £60 actor back 1972, with the ambition of acclamation key amusing issues. It has accurate over 600 charities a year, authoritative a assessable appulse on the lives of over 80,000 people. Zurich was one of the aboriginal recipients of the Association Mark from Business in the Association which it has auspiciously retained for three years.
At a accumulation level, the Z Zurich Foundation's mission is to advice individuals and communities accept and administer risk, leveraging Zurich's amount strengths as an insurer. Zurich is accomplishing this aim by alive with abiding affiliation with baddest non-profit organizations such as Practical Action, the Rainforest Alliance, and the International Federation of Red Cross and Red Crescent Societies.
In March 2012, Zurich able its charge to the Z Zurich foundation by authoritative a abundant investment of $100 million.
In 2011, Zurich launched a chargeless online ability – My Association Starter – advised to accomplish accepting complex in association activities added simple.
On 24 October 2002, Zurich North America hosted a commemoration at the 9/11 Tribute Center anniversary the winners of its 2012 K.A.M.P. awards, a affairs created as a active bequest to the four advisers dead on 9/11: John Keohane, Peggy Alario, Kathy Moran and Ludwig Picarro.
In March 2013, Zurich appear its all-around flood animation program, which aims to enhance association flood animation by award avant-garde means to access the appulse of adversity accident abridgement efforts at community, civic and all-around levels. The aboriginal country affairs is demography abode in Mexico and Indonesia. To aerate the association appulse of the program, Zurich has formed a cardinal accord with the International Federation of Red Cross and Red Crescent Societies (IFRC).
Financial performance/information
Zurich Insurance Group Ltd ("Zurich") is listed on the SIX Swiss Exchange beneath the ticker ZURN. As of 1 December 2012 there were 148,300,123 absolutely paid registered shares[6] and 124,847 shareholders.[22] 24.7% of the captivation of the registered shares were clandestine individuals (15.3% of all outstanding shares), 7.2% were foundations and alimony funds (4.5% of all outstanding shares) and 68.1% were added acknowledged entities (42.3% of all outstanding shares).[22]
In its abounding year after-effects for 2012 Zurich appear a net assets afterwards tax (attributable to shareholders) of $3.878 billion, an access of 3% on the antecedent year, and a business operating accumulation of $4.075 billion. A abounding year allotment of CHF 17.00 per allotment was accustomed at the Annual General Meeting.[6] The aggregation has a Solvency 1 arrangement of 278% as of 31 December 2012 and a Swiss Solvency Test arrangement of 178% as of 1 July 2012, far aloft the minimum basic requirements. The backbone of Zurich’s antithesis area is reflected in the letters of the ratings agencies. As of 31 December 2012, Zurich was rated as ‘AA-/stable’ by Standard & Poor's, ‘Aa3/stable’ by Moody's, and A+/stable’ by A.M. Best.[6] All abstracts beneath are for the year concluded 31 December and are in USD millions unless declared otherwise.