Nigel Masters appointed to Chief Actuary of its Global Life Insurance business

Zurich, May 16, 2006 – Zurich Financial Services Group (Zurich) announced the appointment of Nigel Masters (53) to Chief Actuary of its Global Life Insurance business effective July 3, 2006.

Commenting on the appointment, Patrick O’Sullivan, Zurich’s Group Finance Director, said “I am delighted that Nigel is joining us. His extensive financial experience and his work with the CFO Forum will add further value to the financial discipline that we have implemented within Zurich.”

Paul van de Geijn, CEO Global Life, added “Nigel’s deep knowledge of the life insurance industry will be a great asset to our market strategy.  We’re excited to have him join our team.”

Mr. Masters has worked in the Life industry for over 25 years. After working for a life insurer in various roles, he joined Coopers & Lybrand’s London office in 1992. Since then, he rose to become a senior partner in PriceWaterhouseCoopers' European life actuarial practice where he has advised on an extensive range of actuarial issues ranging from product development to mergers and acquisitions. He is known throughout industry circles for his work with the CFO Forum where he has been directly engaged in the development of the recent standards on European Embedded Value and in the international development of prudential and financial reporting standards for insurers.