Zurich Financial Services

Zurich Financial Services

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Zurich Financial Services

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Description:
Zurich Financial Services AG () is a major financial services group based in Zurich, Switzerland.

History

The Company was founded in 1872 as subsidiary of the Schweiz Marine Insurance Company under the name Versicherung Verein (Insurance Club). The Company changed its name to Zurich Marine and Accident Insurance in 1875 and to Zurich General Accident and Liability Insurance in 1894. In 1998 the Company acquired British American Financial Services, a business owned by BAT Industries comprising Eagle Star (acquired in 1984), Allied Dunbar (acquired in 1985) and the Farmers Group, Inc. (acquired in 1988), for $18.6 billion.

In 2000 the structure of business, which had previously involved dual holding companies (Allied Zurich plc in the UK and Zurich Allied AG in Switzerland), was unified to form one holding company - Zurich Financial Services.

In 2008, Zurich launched its biggest global campaign, and while some of the messaging is about the health of the company's balance sheet (when it recovered, it focused on its core business and avoided risky growth strategies), the effort was developed mainly to assuage consumers' mistrust of the...
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