Business year 2006
January: Zurich’s Europe General Insurance business division holds an investors’ day to introduce its pan-European strategy, with plans to increase the sales force, improve multichannel distribution, and reduce costs through common IT platforms.
February: Despite 2005’s record catastrophes, Zurich reports a business operating profit of USD 3.9 billion, an increase of 32 percent over 2004, and a return on common shareholders’ equity of 15.5 percent, well ahead of the 12 percent target.
March: Zurich’s business leaders revisit the US Gulf Coast to review progress in rebuilding New Orleans after Hurricane Katrina.
April: Zurich’s commitment to the area continues in its sponsorship of the Zurich Classic of New Orleans golf championship, and support of the Fore!Kids Foundation, which financially helps a variety of agencies serving needy children.
May: Zurich is the first foreign insurer granted a license to establish a general insurance branch in Beijing. The company has been present in mainland China since 1993.
June: North America Commercial business division holds an investors’ day to outline its plans for profitable growth, especially in the fast-growing small business market.
July: Global Life explains to analysts how European embedded value will improve management of Zurich’s life businesses, increase shareholder value and drive profitable growth.
August: During the first six months of 2006, Zurich generates a record business operating profit of USD 2.8 billion, and a 19 percent return on common shareholders’ equity.
September: Zurich’s best-selling and awardwinning Irish life insurance product is adapted for the German broker market.
Zurich introduces a pilot project in Spain enabling employees of two major companies to buy standard motor, property and liability products through workplace intranets. A similar pilot is launched in the UK in December.
October: With a forum in Beijing on enterprise risk management, Zurich responds to a growing need among Chinese business leaders for information and guidance.
Zurich celebrates ten years of operating in Russia, and increases the authorized capital stock of Zurich Russia.
November: Zurich’s Global Corporate business releases the Zurich Multinational Insurance Proposition, the industry’s first comprehensive response to international tax and regulatory complexities.
Zurich announces the creation of a Chief Growth Officer role, ensuring a disciplined and systematic approach to profitable growth. In addition, Zurich introduces a new business unit to serve central and eastern Europe with headquarters in Vienna.
December: By acquiring ACC Seguros y Reaseguros de Danos S.A, Zurich is the leading writer of surety insurance in Spain.
Farmers extends its first in the nation hybrid car insurance discount to 37 US states.
Zurich agrees a transaction to buy all remaining shares in UK intermediary Endsleigh, which specializes in insurance and financial products for career people.
