Top 20 - 4. Zurich Insurance

ZURICHINSURANCE: THE LAST 12 MONTHS

JULY 2003

- Closes its central data centre for its UK insurance business, based in Swindon, in a move that affects 45 jobs.

APRIL 2003

- Briefs 500 brokers over its plans to promote Zurich's brand. Ian Owen, head of Zurich's personal lines division, tells PM the advertising campaign in the national press will promote Zurich personal lines, through both its broker and direct channels.

- Zurich London chief executive officer Martin South voices concern over the deteriorating relationship between insurers and reinsurers, which he says has seen long-standing relationships torn up overnight.

MARCH 2003

- Confirms it is expanding its call centre services in India, after a successful 12-month pilot. The company plans to open a new office in Bangalore - capable of housing up to 344 staff - following the success of the pilot.

FEBRUARY 2003

- Zurich's high net worth division Private Clients launches a new City office.

- Announces it is to offer its professional indemnity insurance to a wider group of professionals, following its success in the solicitors' and accountants' markets.

NOVEMBER 2002

- Pulls the plug on the Prestatyn-based Zurich Warranty Management Services, with the loss of 120 jobs.

- Geoff Riddell is appointed chief executive of general insurance at Zurich Financial Services UKISA. He replaces Patrick O'Sullivan, who becomes group finance director and member of the group executive committee.

OCTOBER 2002

- Announces plans to close its Bournemouth-based Eagle Star Direct operation, with the loss of 300 of the 400 jobs there.

- Zurich Professional claims it is now the number one provider of professional indemnity insurance to solicitors in England and Wales following the release of the latest figures from the Law Society. It claims 21% share of the market.

ZURICH

GWP Less Treaty: $33,642bn (£21 201.16bn) (Net written premiums and policy fees - 31 December 2002)

Pre-tax loss: $3,577bn (Loss before income tax benefit/expenses - 31 December 2002)

UK head office: Zurich House, Stanhope Road, Portsmouth PO1 1DU

No of regional offices (UK): Offices in more than 90 locations in the British Isles and Ireland

Worldwide offices: Offices in more than 50 countries

Chief executive + key personnel: James J Schiro, chief executive; Peter Eckert, chief operating officer; Patrick O'Sullivan, group finance director; David L Wasserman, chief investment officer and head of group strategic planning; John Amore, chief executive North America corporate; Martin D Feinstein, chief executive North America consumer/Latin America; Axel P Lehmann, chief executive Zurich Continental Europe

Major shareholders: Brandes

Main lines of business: Insurance - life and general insurance

Total no of employees: Approximately 64,000 worldwide

Recent sales (disposals): March: Rud Blass in Switzerland; March: Operations in the Baltic countries

Reserves: $151,890bn (Insurance reserves - 31 December 2002)

Agency base/direct arm: Zurich's product distribution meets the needs of our customers' varying needs, through exclusive or independent agents and brokers, or directly through the internet or by telephone.

Comment: Chief executive, Zurich Financial Services, James J Schiro says: "I sense that pride and confidence in our ability to deliver is building slowly as we, step by step, transform Zurich into a stronger, better, and profitable insurance company that will make its independent mark in the industry. I know we will succeed if we stay focused on the tasks ahead."

Figures: Zurich Insurance worldwide group.