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Zurich Financial Services Australia Limited (Zurich Australia), a member of the Swiss based worldwide Zurich Financial Services Group, is the only global financial services company operating in Australia under a single brand. The company is 100% owned by Swiss based Zurich Financial Services and operates under the global Zurich brand.
Zurich Australia offers general insurance solutions to commercial customers, primarily through brokers. It also offers life risk and investment solutions to corporate and personal customers, primarily through advisers and financial planners. Zurich Australia does not actively compete against intermediaries in the marketplace, instead focusing on business planning to mutually grow their business. Zurich Australia has no channel conflict in that it is neither owned nor backed by a bank.
Zurich Australia remains committed to the Australian market. The company has offices Australia wide and is head-quartered in North Sydney.
Zurich Financial Services is an insurance-based financial services provider with a global network. Founded in 1872, the company’s headquarters are in Zurich, Switzerland.
Zurich employs approximately 60,000 people servicing customers in more than 170 countries. It is the second largest insurer of global corporate business. Zurich’s general insurance gross written premiums and policy fees exceed US$55 billion and is listed on the Zurich stock exchange.
The Australian lineage of Zurich Financial Services dates back to 1920, when the Commonwealth General Assurance Corporation (CGA) was incorporated in New South Wales. In 1961, CGA became part of the Zurich Financial Services Group.
Employees and management
Today Zurich Australia has approximately 1000 employees throughout Australia.
General insurance and life risk
In the area of risk management, Zurich Australia offers a targeted range of business. Zurich Australia Limited- the organisation’s general insurance and life arms both currently have a Standard & Poor’s A+ rating, which shows a strong capacity to meet claims.
Zurich Australia offers choice and flexibility through a strong suite of core business and personal life risk solutions. Personal risk solutions include life, trauma and disability insurance. Zurich Australia is the only insurer to be ranked 5 star over four consecutive years.
Zurich Australia is a leader in e-commerce innovation. The company was the first general insurer in Australia to launch a full end-to end, web-based commercial policy processing system – Z stream. Zurich Australia also provides a range of online risk management tools for brokers and their clients, such as Virtual Fleet Risk Manager processing of CTP insurance.
The company also provides solutions for mining & energy companies through Zurich Global Energy. Zurich subsidiary Associated Marine is the largest writer of marine, hull and cargo insurance in Australia.
Investments and super
Zurich Australia offers a comprehensive range of investment and superannuation solutions to suit different client needs. Its competitive products offer individual flexibility in managed funds, superannuation and account-based allocated pension plans.
Zurich Australia aims to grow its funds management business in Australia through the formation of strategic investment partnerships and intermediary- based distribution model.
As of 30 June 2008, Zurich Australia had more than $A6.3 billion in funds under management in both strategic investment partnerships.
Zurich Australia Corporate Responsibility approach aims to build trust and integrity with customers, employees, the community and all stakeholders through thoughtful contribution to the community and environment.
Zurich has implemented the following Corporate Responsibility initiatives in 2008:
Zurich Australia is proud to support football as an Official Partner of the Hyundai A – League. Sponsorship of the sport is a great fit for Zurich Australia, which has growth aspirations that parallel the Football Federation of Australia’s.
Zurich Australia also sponsors two industry awards: