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Zurich announces it will not bid for Royal Bank of Scotland Insurance

Zurich, July 10, 2008 – Zurich Financial Services Group (Zurich) confirmed today that it has been considering making a bid for the insurance business of Royal Bank of Scotland and has carried out a detailed review of the opportunities. Following such review, the Group has decided to withdraw from any further discussions.

Zurich will continue to assess growth opportunities in line with its stated strategic and financial targets, in furtherance of continued shareholder value. In addition, it will recommence purchasing shares under its previously announced share buyback program starting Friday, July 11, 2008.

Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 60,000 people serving customers in more than 170 countries.

For additional information please contact:

Group Media Relations
Phone: +41 (0)44 625 21 00, Fax: +41 (0)44 625 26 41

Investor Relations
Phone: +41 (0)44 625 22 99, Fax: +41 (0)44 625 36 18

Zurich Financial Services
Mythenquai 2, P.O. Box, 8022 Zurich, Switzerland
SWX Swiss Exchange/virt-x: ZURN
Valor: 001107539