Zurich acquires DWS Vita SpA in Italy

Zurich, December 17, 2007 – Zurich Financial Services Group (Zurich) today announced that its subsidiary Zurich Investments Life SpA (Italy) has signed an agreement to acquire 100% of life insurer DWS Vita SpA. The seller is an Italian subsidiary of Deutsche Bank. The purchase price amounts to approximately USD 140 million. Subject to the approval of the relevant insurance regulatory and antitrust authorities, the transaction is expected to close in the first half of 2008.

DWS Vita SpA has technical reserves in excess of USD 1.4 billion and net written premiums in the first six month of 2007 totalling approximately USD 50 million. It mainly distributes its life insurance products through Finanza & Futuro Banca SpA (“Finanza & Futuro”), Deutsche Bank’s network of financial advisors in Italy. The new Zurich entity will enter into a long-term agreement with Finanza & Futuro for the distribution of life insurance products. Through this transaction, Zurich and Deutsche Bank are strengthening their global partnership with an additional distribution channel in Italy. Zurich has been distributing its life insurance products through Deutsche Bank’s branches in Italy for the past five years.

Paul van de Geijn, Zurich’s CEO Global Life Insurance, said: “The acquisition of DWS Vita reinforces our strong global partnership with Deutsche Bank, and provides an additional successful distribution channel. We are happy to be able to strengthen our position in this important and fast growing Italian Life insurance market, and to secure access to the excellent Finanza & Futuro network of over 900 advisors.”