Zurich issues estimate of weather losses in the UK during July

Zurich, September 11, 2007 – Zurich Financial Services Group (Zurich) announced today that based on its current best estimate it expects aggregate claims payments related to floods that occurred in the UK in July 2007 will not exceed USD 260 million before tax. This estimate is net of reinsurance. The period of extreme weather in Southern England was from July 20 to July 23, 2007. Charges will be recorded in the nine months results 2007, which are due to be released on November 15, 2007.

On August 2, 2007, Zurich reported that the estimated losses for the extreme weather that occurred in the UK in June 2007 were not to exceed USD 400 million before taxes. These charges were reported in the half year results 2007.

While these amounts represent the best estimate of the ultimate cost for these events, the nature of many of the losses and the extended remediation period needed to dry out properties and to complete repairs means that some uncertainty as to the final cost remains.

Zurich is committed to delivering against its customer promise and in these extreme circumstances the local teams, supported by resources from other Zurich operations in Europe and North America, have successfully maintained Zurich's high level of customer claims service. This is a further example of the competitive advantage of Zurich’s global reach and culture.