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Capital injection into Zurich Insurance Company

Zurich, December 20, 2002 - Zurich Financial Services Group has increased the capital of Zurich Insurance Company, one of its key operating entities, by CHF 1.7 billion. The nominal share capital was increased by CHF 340 million to CHF 825 million through the issuance of 34 million fully paid registered shares with a nominal value of CHF 10 each at an issue price of CHF 50 per share.

This capital injection follows the ordinary capital increase of Zurich Financial Services, completed on October 30, 2002, which raised CHF 3.744 billion. The Group-internal injection of capital replaces inter-company loans to Zurich Insurance Company.

Zurich Financial Services is an insurance-based financial services provider with an international network that focuses its activities on its key markets of North America, the United Kingdom and Continental Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. It has offices in approximately 60 countries and employs well over 70,000 people.

For further information please contact:

Zurich Financial Services, Media and Public Relations
8022 Zurich, Switzerland
Phone +41 (0)1 625 21 00, Fax +41 (0)1 625 26 41
http://www.zurich.com
SWX Swiss Exchange/virt-x: ZURN