Zurich Insurance Group

Selected Zurich advertising

Zurich is one of the world's largest insurance groups, offering personal and commercial general and life cover. It operates primarily in Europe as Zurich and in the US through subsidiary Farmers as well as under the main Zurich brand, but has also been pushing into emerging markets with the ultimate goal of becoming one of the world's top five insurers. However, a big rise in catastrophe claims put expansion plans on hold temporarily at the end of 2015. The business was formed in 1998 following the merger of Swiss-based Zurich Group with the financial services businesses owned by British American Tobacco. However, following that merger the group struggled to manage its sprawling portfolio, and sold off a host of non-core operations to shore up its capital base. In 2006, Zurich began preliminary merger talks with US insurer St Pauls, to create a global giant to rival AIG, but those talks ended without agreement. Instead, it has continued to expand through selective acquisitions, mainly in emerging markets of Asia and Latin America.

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Who are the competitors of Zurich? See Financial & Insurance Sector for other companies

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Recent stories from Adbrands Weekly Update:

Adbrands Weekly Update 24th Sep 2015: Insurance giant Zurich pulled the plug on talks to acquire UK rival RSA for £5.6bn. It found no fault in the smaller company's accounts, it said, but can no longer afford the deal because of huge claims relating to the recent explosions in the Chinese port of Tianjin. Payouts have already exceeded $275m. As a result, Zurich warned it will post a loss of around $200m for its 3Q.

Adbrands Weekly Update 27th Aug 2015: After several weeks of negotiation, British insurer RSA (the former Royal & Sun Alliance) has accepted in principle a takeover by larger rival Zurich worth £5.6bn, a premium of around 25% above the target company's share price before talks were disclosed. The deal is still conditional upon due diligence as well as shareholder approval. RSA is best-known globally for its life and pensions cover, though it also sells home, car and pet insurance in the UK under the More Than brand.

Subscribers may access the following website links:

Zurich Group website

Farmers Group Endsleigh

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