Zurich Financial Services has announced its global commercial insurance operation...
Zurich Financial Services has announced its global commercial insurance operation will now be focused in Dublin.
Zurich Insurance Ireland, which was formerly known as Eagle Star Insurance, will specialise in coverage for cross-border risks to European corporate customers, the company said.
The Dublin-based unit has also opened a London branch office which will underwrite cover for non-UK domiciled business for Zurich's UK customers.
The company also announced it will sell its 94% stake in Atlanta-based ZC Sterling to private equity fund Trident III LP, which was established in 2004 by MMC Capital, a unit of Marsh & McLennan.
Terms of the deal, expected to be completed in the third quarter of 2005, have not yet been disclosed.
ZC Sterling provides a range of services including business process outsourcing and technology services to the mortgage, insurance and homebuilding industries, the company said.
