Our Global Life Insurance business benefits from extensive distribution networks in the US and the UK, as well as thousands of agents and independent distributors spread across our key markets in continental Europe – Austria, Germany, Ireland, Italy, Portugal, Spain and Switzerland.
In continental Europe, we continue to see great market potential through our relationship with Deutsche Bank, which uses Zurich as its exclusive supplier of life insurance products. Our life operation reaches out to customers in Germany, Spain, Italy and Portugal through Deutscher Herold. We also have strong partnerships in place to distribute products and services.
In the US, the Farmers life network has grown its share of the market through cross-selling products to customers of the Farmers Exchanges, which we manage but do not own. Farmers also specifically targets the Hispanic and small business markets.
Asia is a particular growth area. Young professionals and high net worth customers are the fastest growing sector investing in Zurich’s products in Greater China. Zurich International Life is now targeting other markets in Southeast Asia, with their large expatriate communities and growing professional classes.
Across the business, we have developed a common approach for systematically identifying and pursuing growth opportunities in our independent channels (brokers, independent financial advisers, banks and credit unions).
Germany
Largest provider of unit-linked products
(based on new business premiums 2005)
Source: Tillinghast
Spain
Largest provider of unit-linked products
(based on gross written premiums 2005)
Source: ICEA (Investigacion Cooperative entre Entidades Aseguradoras y Fondos de Pensiones)
Switzerland
3rd largest life insurer
(based on direct gross written premiums 2005)
Source: Federal Office of Private Insurance
Argentina
Largest individual life insurer
(based on gross written premiums 2005)
Source: SSN (Superintendencia de Seguros de la Nacion)
Hong Kong
2nd largest provider of unit-linked products
(based on the combined “total annualized premium” in the first three quarters of 2006)
Source: OCI (Office of Commissioner of Insurance)
