Zurich Financial Services Group acquires all shares in Zurich Handlowy insurance companies in Poland

Zurich, November 5, 1999. - Zurich Financial Services and Bank Handlowy, Warsaw, with 50 percent share ownership each in Zurich Handlowy Life Insurance SA and Zurich Handlowy Insurance SA, Warsaw, agreed on the sale of all shares held by Bank Handlowy to Zurich Financial Services. The consideration is less than 0.2% of the net assets of the Zurich Financial Services Group. The existing sales cooperation with Bank Handlowy will be maintained.

Founded early in 1998, the two insurers have had a successful start. They offer their services to the Polish market through an exclusive distribution network now numbering more than 2000 agents.