Zurich Financial Services appoints Chief Executive Officer Life Insurance Business

Zurich, October 24, 2003 - Zurich Financial Services (Zurich) announces the appointment of Paul van de Geijn (57) to the new position of Chief Executive Officer Life Insurance Business effective November 1, 2003. Paul van de Geijn will be a member of the Group Executive Committee (GEC). He joins Zurich from AEGON where he was a member of the Executive Board of AEGON Group, responsible for AEGON USA. In his position with Zurich, Paul van de Geijn will assume global leadership of the Life insurance business. He will report to James J. Schiro, the Group's Chief Executive Officer.

In welcoming Paul van de Geijn's appointment, James J. Schiro said: "Paul's skill and breadth of experience and his successful track record at AEGON - chiefly a Life insurer - will make him a valuable colleague in the GEC. I look forward to his contribution in shaping our global strategy for the Life segment. He is charged with providing leadership and financial discipline to our Life business, with a sharp focus on cost efficiency and sustainable profitability."

Paul van de Geijn added: "I had a wonderful career with AEGON, but now I look ahead to the task at Zurich. These are tough times for life insurers. That is why it is so challenging and exciting for me to be joining Zurich at this moment in time and my career."

The new Chief Executive Officer Life brings to Zurich over 30 years of experience in the Life insurance business. After joining Ennia (one of AEGON's predecessors) in 1971, Paul van de Geijn later became the CEO of AEGON The Netherlands. He was responsible for the Dutch and subsequently the Spanish and Hungarian operations, with a strong emphasis on developing their respective Life insurance businesses. He has been a member of AEGON's Executive Board since 1992.

Paul van de Geijn earned a degree in Business Law from the University of Leiden in the Netherlands, and he participated in the Advanced Management Program at the Harvard Business School. From 2000 to 2002, he was Chairman of the Dutch Association of Insurers. In addition, he holds positions in a public-private partnership in crime control as well as in the Executive Committee of the Dutch Employers' Association. He is also active in a number of community programs in his home town Amsterdam. Paul van de Geijn is married and has two children.