Global Life Insurance

Global Life concentrates on three geographical areas:

• Europe
• United States
• Other regions in our International Businesses division, including Zurich

International Life, which serves the needs of expatriates and international investors.

Our global focus is on unit-linked and protection products, and within that we target clearly defined niches in key markets. This strategy allows us to use our resources in the relevant areas.

Our life business benefits from strong positions in all key markets as well as extensive distribution networks in the United States and the United Kingdom. In the US, Farmers New World Life focuses on protection products for the middle income market, which has 63 million households. In the UK, the former Zurich Advice Network of franchisees has become a retail distribution company called Openwork, a key business partner that sells Zurich products and those from third parties.

In continental Europe, we reach out to customers in Germany, Spain, Italy and Portugal through our relationship with Deutsche Bank, which uses Zurich as its exclusive supplier of life insurance products. We have strong business associations in place to distribute products and services. In 2006 DPAG, a joint venture of Zurich and Deutsche Bank, became the leading public pension fund in Germany.

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

• 3^rd 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

• 2^nd 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)