At the initiative of Vita Lebensversicherungs-Gesellschaft, the first Vita Pathways were established in Switzerland in 1968 and ZIM (Zurich Investment Management) was founded in 1990 as an investment management partner for buyout funds and institutional investors in Switzerland. As part of a new brand strategy, “Vita” became the life insurance company “Zurich” in 1993, which operated on the market under the name “Zürich Leben”. If the name “Vita” has disappeared from the market, it lives in the “Vita Parcours Foundation”, outsourced in 1994. In 1994, “Zurich” took over the Zurich private bank “Rüd, Blass & Cie”. Due to the reorientation towards insurance activities, the private bank was sold again in 2003. [10] In December 2020, Zurich Group acquired MetLife`s property and casualty business for $3.6 billion. The acquisition, combined with a 10-year collaboration agreement between Farmers and MetLife, will be funded by the Zurich Group to the tune of $2.43 billion, with the remaining $1.51 billion contributed by Farmers. [23] Zurich`s farmers` insurance business includes farmer management services that provide claims free management services to producer exchanges (which are not owned by Zurich). Zurich also owns the Farmers RE business, which includes the reinsurance taken over by the Farmers` Exchange Group. Zurich Farmers Insurance Group is the third largest insurance group in the United States. [22] In May 2007, Zurich Capital Markets, a subsidiary of Zurich Financial Services, paid $16.8 million to settle with the U.S. Securities and Exchange Commission for helping four hedge funds conceal their identities so as to avoid detection in frequent transactions involving mutual fund shares.

[40] An SEC director stated, “By knowingly funding the fraudulent market timing of its hedge fund clients, ZCM collected significant fees at the expense of long-term mutual fund shareholders.” [41] In April 2012, Zurich Financial Services Ltd changed its name to Zurich Insurance Group Ltd. In a statement, the group explained the reasons for the name change. “In recognition of this strategic direction, the reference to financial services in the company name has been replaced by the indication of the group`s insurance activities and the specification of the object accordingly.” [15] Between 1955 and 1976, several companies were acquired, including the Commonwealth General Assurance Corporation of Sydney, the Iguazù Compañia de Seguros S.A. of Buenos Aires, the Empire Fire and Marine Insurance Company of Nebraska, the Fidelity and Deposit Company of Maryland, the Universal Underwriters of Kansas City, the Anglo Americana de Seguros Gerais of São Paulo, the “Minerva Group” of Italy. Reinsurance Holding Centre of Bermuda, La Chilena Consolidada, Seguros de Vida of Chile and Seguros Chapultepec of Mexico. [8] Zurich`s Global Life division offers life insurance[20] savings, investment and pension products. In the United States, life insurance is issued by Zurich American Life Insurance Company, headquartered in Schaumburg, Illinois; Overland Park, Kansas; and New York. [21] Commercial activity began on May 1, 1873 and accident insurance was added in 1875. The company was renamed Transport- und Unfall-Versicherungs-Actiengesellschaft “Zurich”. In 1880, Zurich abandoned shipping after a considerable loss.

[8] In 2019, the local branch of Zurich Insurance Group was one of four insurance companies fined by the Portuguese competition authority AdC for “antitrust practices” related to workers` compensation, health insurance and car insurance. [44] Zurich Ireland is a wholly owned subsidiary, officially known as Zurich Insurance plc (“ZIP”). ZIP is an Irish insurance company, originally established in 1950, which is the main legal entity of Zurich Insurance Group for underwriting non-life insurance activities in Europe. ZIP underwrites non-life insurance business throughout the European Union through its Irish head office and branch network. [24] Zurich Insurance Group Ltd. is a Swiss insurance company based in Zurich and the largest insurer in the country. [2] As of 2021, the Group is the 112th largest publicly traded company in the world according to Forbes` Global 2000s list,[3] and ranked 94th in Interbrand`s top 100 brands in 2011. [4] Zurich is a global insurance company divided into three main businesses: general insurance, global life insurance and farmers. Zurich employs 55,000 people with customers in 215 countries and territories. [5] The company is listed on the SIX Swiss Exchange. In 2012, its equity stood at $34.494 billion.

[6] In 2006, Zurich Financial Services settled a $171 million case related to bid and pricing in the United States. [36] “Companies that bought commercial insurance were deceived into believing they would get the best deals available,” Abbott said.