Appointment to senior position in Group Risk Management

Zurich, December 6, 2005 – Zurich Financial Services Group (Zurich) announced the appointment of Andreas Grünbichler to Group Chief Risk Officer, effective January 1, 2006.

Andreas Grünbichler (age 41) will succeed Wayne Fisher (age 61) as the Group’s Chief Risk Officer. Prior to his joining Zurich in October 2004 as Head of Group Risk Management Policy and Research, Andreas Grünbichler was co-CEO of the Austrian Financial Market Authority in Vienna and full professor of finance at the University of St. Gallen. Wayne Fisher has been the Group’s Chief Risk Officer since 2002 and previously held underwriting, risk and actuarial positions with the Group in North America and at the Corporate Center. He will be staying on to work on special projects for the Group CEO and to assist with the transition in Group Risk Management over the next year.