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Zurich confirms guilty pleas of former employees

Zurich, November 16, 2004 – Zurich Financial Services (Zurich) confirmed today that two of its former employees have been charged with, and have pled guilty to, a misdemeanor violation of New York State antitrust law. These actions relate to the industry-wide investigation by the Office of the New York Attorney General into the business relationships between insurance brokers and insurance companies. The two individuals were underwriters in Zurich’s Excess Casualty Unit in the Specialties Business of North America Commercial.

Zurich had previously suspended these individuals as a result of its own review of business practices relating to brokers, which included a careful look at its relationship with Marsh & McLennan as a result of the recent complaint filed against Marsh by the Office of the New York Attorney General. The two individuals charged have since left the company.

Zurich continues its review and it will continue to cooperate with the Office of the New York Attorney General and other authorities.

Zurich Financial Services is an insurance-based financial services provider with a global network that focuses its activities on its key markets in North America and Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. Zurich has offices in more than 50 countries and employs about 62,000 people.

 

 
For further information please contact:
 

 

Media and Public Relations

Phone: +41 (0)1 625 21 00, Fax: +41 (0)1 625 26 41, E-mail: media@zurich.com
 

 

Investor Relations

Phone: +41 (0)1 625 22 99, Fax: +41 (0)1 625 36 18, E-mail: investor.relations@zurich.com
 

 

Zurich Financial Services

Mythenquai 2, P.O. Box, 8022 Zurich, Switzerland

http://www.zurich.com

SWX Swiss Exchange/virt-x: ZURN

 
 

 

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