Co-sponsoring of Bermuda-based insurance underwriter Endurance Specialty Insurance Ltd.

Zurich, November 8, 2001 - Zurich Financial Services announced today that through its private equity affiliates, investments totaling $200 million will be made as part of Zurich's co-sponsorship with Aon Corporation of Endurance Specialty Insurance Ltd., a new Bermuda-based insurance capacity vehicle. The new company will provide underwriting capacity to commercial property and casualty insurance markets. Plans for the new company include capitalization of approximately $1.2 billion with investments from several other parties.

The Zurich Financial Services Group (www.zurich.com) is a global leader of integrated financial services, providing its customers solutions in the areas of financial protection (non-life insurance and structured solutions) and asset gathering (life insurance and asset management). The Group has offices in more than 60 countries employing 70,000 people. In 2000, the Group achieved gross premiums of USD 50 billion. This amount includes insurance deposits as well as premiums from the Farmers P&C Group. The net income was USD 2.33 billion. On December 31, 2000, the Group had USD 440 billion of assets under management of which USD 259 billion represent funds managed for third-party institutional and retail customers.

For further information please contact:
Zurich Financial Services, Media and Public Relations
8022 Zurich, Switzerland
Phone +41 (0)1 625 21 00, Fax +41 (0)1 625 26 41
http://www.zurich.com