Singapore branch to fuel further profitable growth at Zurich

Zurich, May 5, 2008 – Zurich Financial Services Group (Zurich) announced that it has opened the Zurich Insurance Company Singapore branch, which becomes operational today, on May 5, 2008. From the Singapore branch office, Zurich will provide a full scope of insurance services to corporate and commercial customers based in Singapore and across South East Asia. These services will include energy insurance products for which Zurich's expertise is well established, as well as trade credit and political risk insurance.

Geoff Riddell, CEO of Zurich Global Corporate, said: “Singapore is developing rapidly as a regional insurance market and is also a vibrant economy which is home to many large and fast growing companies and  hosts the regional headquarters of many multinationals. In addition it has one of the busiest ports in the world and at the same time is a leader in new biotechnologies, petroleum refining and manufacturing computer components. We see our upgraded presence in this market as an opportunity to strengthen Zurich’s position in South East Asia and to promote Zurich’s continued profitable growth in this region.”

Johnny Chen, Zurich’s Greater China and Southeast Asia CEO, said: “This marks a key milestone in our expansion of products and services in the region and sends a strong signal to our customers that Zurich is committed to providing relevant solutions for both Singapore-based and globally operating companies.”

The Singapore branch office will replace the Representative Office of Zurich Insurance Company. This office was established on January 1, 2007, and served as the main liaison office for Zurich’s Global Energy unit which has been one of the main insurance providers for energy customers in this region for more than a decade.

With the opening of the Singapore branch office, Zurich is building on the success of the Singapore Branch of Zurich International Life Limited (ZILL), which was established in November 2005. ZILL, an Isle of Man domiciled company, and part of Zurich International Solutions, offers offshore investment products through independent advisers and banking partners to the high net worth segment of investors.