Worldwide GWP for 1998 (£000s):
Worldwide GWP for 1998 (£000s):
£17,128,051 (1997): £12,832,372)
Rolf Huppi joined Zurich in 1963 and from 1964 to 1970 worked for the Zurich branch office in India, assuming overall responsibility there in 1966. In 1970 he returned to Home Office in Zurich for two years before moving to the USA to carry out various activities culminating in the regional manager's position at Pittsburgh PA. In 1975 he again returned to the Home Office and built up the international division. In 1983 he was elected member of the Corporate Executive Board and appointed CEO of Zurich USA.
After his return, he was appointed deputy chief operating officer in 1987 and president and chief executive officer in 1991. In 1993 he was elected member of the Board of Directors and has been chairman since 1995.
Since the September 1998 completion of the merger of BAT Industries' financial services business with the Zurich Group to create the Zurich Financial Services Group, he has been chairman and chief executive officer. Rolf Huppi is also chairman of the Board of Directors of Zurich Allied AG, Zurich and deputy chairman of the Board of Directors of Allied Zurich, London.
Year company established:
Address, telephone and fax numbers of European head office:
Tel: +41 1 625 25 25
Fax: +41 1 625 35 55
Key general insurance personnel:
Group Executive Board:
Rolf Huppi (CEO)
William H Bolinder (North America and Latin America)
Peter Eckert (Switzerland)
Martin Feinstein (US personal lines and farmers)
Heinrich Focke (northern and eastern Europe)
Gunther Gose (chief financial officer)
Alexander Park Leitch (UK, Ireland, Southern Africa)
Dirk Lohmann (reinsurance)
Frank Schnewlin (Southern Europe, Asia/Pacific, Middle East and Africa)
Edmond Villani (global asset management)
Zurich was founded in 1892. Within the next 12 years the company rapidly expanded its operations to include most European countries. In the years following the First World War, Zurich established a strong presence in the USA and started business in the UK (1922) and Canada (1923). At the same time, Zurich expanded its activities in the life insurance business. Over the last 30 years, Zurich has steadily expanded its market position within Europe and the USA and gradually established a presence in Asia, Latin America and Eastern Europe.
Zurich made an important strategic decision in 1995 to set up asset management as a fourth core business. By acquiring the Kemper Corporation in the first week of January 1996, Zurich created a basis for establishing asset management for third party customers. It quickly became clear, however, that it would not be possible to achieve the critical mass necessary within an appropriate time-scale. The merger of Zurich Kemper Investments and Scudder, Stevens & Clarke, which became effective on December 31, 1997, was the next logical step, placing Zurich in league with the world's leading asset managers. In September 1998 Zurich entered a merger with the financial services sector of British American Tobacco (BAT); the new company, known as Zurich Financial Services Group, is one of the world's leading insurance and asset management companies.
Worldwide net written premium for 1998 (£000s):
Worldwide net written premium for 1997 (£000s):