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Zurich North America Review

Zurich North America Ratings and Company Information

Company Rating:
Best Insurance Reports: A
Url of page where rating was collected:
http://www.ambest.com/ratings/

Best Rating: A.M. Best rating: A (excellent)

Type of Insurance Company: Property and Casualty

Name of Parent Company:
Zurich Financial Services

Company Overview:
Company History: Zurich in North America is a group of companies ultimately controlled by the parent stockholder-owned company, Zurich Financial Services, of Switzerland -- which was founded in 1872. Zurich U.S., a New York based property and casualty company, is the lead U.S. insurance company of Zurich in North America. It operates (together with more than 15 insurance subsidiaries) through its holding company parent (Zurich Holding Company of America, Inc.) in Schaumberg, Illinois. Zurich U.S. has about 9,200 employees and contributes about 40% of the Swiss company's worldwide property and casualty premiums.

Principle Sales Methods: Zurich in North America is a leader in the U.S. property and casualty business serving a wide range of small and mid-size businesses as well as large domestic and multinational corporations. The focus in Canada is similar, except that small businesses are not offered commercial p/c . The U.S. consumer market is served primarily by Farmers, the 3rd largest personal lines property and casualty group in the U.S. The Farmers Exchanges and their subsidiaries (managed, but not owned by Zurich)operate in 41 states through a network of 17,000 exclusive agents and 1,100 independent agents. Zurich U.S. also delivers property and casualty insurance products and services through associations, affinity groups and business partners such as financial institutions and retailers. Zurich has about 10 million households as customers for its personal lines.

Life Annuity Business: In the U.S., the Farmers Life network cross-sells life products to customers of the Farmers Exchanges, which are managed but not owned by Zurich U.S.

Auto Business: The U.S. consumer market is served primarily by Farmers, the 3rd largest personal lines property and casualty group in the U.S. The Farmers Exchanges and their subsidiaries (managed, but not owned by Zurich)operate in 41 states through a network of 17,000 exclusive agents and 1,100 independent agents. Zurich U.S. also delivers property and casualty insurance products and services through associations, affinity groups and business partners such as financial institutions and retailers. Zurich has about 10 million households as customers for its personal lines.

Homeowners Business: Like the auto business, the U.S. consumer market is served primarily by Farmers --the personal lines p/c group.

Health Business: In addition to property and liability coverages offered to small business owners in the U.S., Zurich in North America companies also provide term life insurance, health insurance and access to commercial loans to those customers.

Company Financial Status:
Ticker Symbol: ZURN.VX
Assets & Premiums: Zurich U.S. had direct premiums written in 2005 totaling $12.9 billion. California accounted for 12.8% of these premiums followed by Florida (8.5%) and Illinois (8.2%). Total admitted statutory assets were $29.2 billion at the end of 2005.

Lines of Insurance:
Auto, Health, Long Term Care, Life, Disability, Homeowners

States licensed to sell insurance in:
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY

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