Andreas Grünbichler appointed to CFO of International Businesses

Zurich, November 20, 2007 – Zurich Financial Services Group (Zurich) announces the appointment of Andreas Grünbichler (43, Austrian) to the position of CFO of International Businesses (IB), effective January 1, 2008. In this position, he will be responsible for all the IB Finance and Actuarial functions, with all the regional CFOs reporting to him on a functional basis. In addition, Andreas will drive The Zurich Way of Finance across the IB regions, and work closely with the entire IB leadership team to advance Zurich’s profitable growth efforts. He will report to Patrick O’Sullivan, Chief Growth Officer and Dieter Wemmer, Chief Financial Officer, and will be located in Zurich, Switzerland.

Andreas Grünbichler joined Zurich in 2004 as Head of Group Risk Management Policy and has been serving as Group Chief Risk Officer since the beginning of 2006. He reengineered the risk function and established an Enterprise Risk Management Framework for the Group.

Prior to joining Zurich Andreas served from 2001 to 2004 as CEO of the Austrian Financial Market Authority, supervising insurance companies, banks and the securities market in Austria, and serving as a member of several pan-European regulatory bodies. Before he served as a member of the Executive Board of Bank Styria in Austria, and has held several academic posts in Switzerland and the US, including at such prestigious institutions as the University of St. Gallen, Yale University and the University of California at Los Angeles.