A multinational opportunity
For major corporate customers, Zurich's Multinational Insurance Proposition (Zurich MIP) has once again proved a vital tool in addressing global exposures, which in turn create significant market opportunities for Zurich. For example, not only did Zurich MIP provide the differentiator that secured the directors and officers (D&O) liability coverage for Shell, but it also led to a further opportunity to write Shell's international motor fleet business in Europe. Zurich MIP provides underwriters and customers with cross-border insurance solutions that are aligned with local regulatory and tax requirements.
In 2007, Global Corporate formed a specialized unit, with offices in the US, Zurich and London, to offer customized solutions for customers going through a merger or acquisition. Similarly, at the end of the year, we established a new business unit, Global Corporate in Asia-Pacific (GCiAP), to cover three regions: Japan, Greater China / South- east Asia and Australasia. These structural changes are direct reflections of the increasingly global needs of certain customer classes,and highlight Zurich's ability to leverage existing capabilities in new and customer-oriented ways.
