Zurich sells majority interest in ZC Sterling Corporation

Zurich, May 24, 2005 – Zurich Financial Services Group (Zurich) and Trident III, L.P. (Trident) have signed a definitive stock purchase agreement for Trident to acquire Zurich’s equity stake of about 94% in ZC Sterling Corporation (ZC Sterling). The parties agreed to keep the value of the transaction confidential. Subject to regulatory approvals, the transaction is expected to close in the third quarter of 2005.

The sale of the stake in ZC Sterling represents another step for Zurich to focus on its core insurance operations. The insurance relationship between Zurich and ZC Sterling will continue under long-term contracts entered in 2004, with ZC Sterling serving as an underwriting management agent for certain Zurich risk carriers in North America.

ZC Sterling is a leading provider of business process outsourcing, insurance, consumer marketing and technology services to the mortgage, insurance and homebuilding industries. The company is headquartered in Atlanta, Georgia.