Zurich further simplifies its global organizational structure at Head Office

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Zurich, June 19, 2012 – Zurich Insurance Group (Zurich) today announced new measures to further simplify and delayer its global organizational structure to more closely align segments and functions with the execution of its Group strategy while reducing the need for coordination.

The company will discontinue the Chief Administrative Officer (CAO) role and integrate specific areas of that office’s responsibility into other functions. At the same time, the Group General Counsel, Yannick Hausmann (44, Swiss citizen), will be appointed to the Group Executive Committee (GEC).

Zurich will further appoint a Chief of Staff, who will take over some of the administrative functions formerly assigned to the CAO. Kristof Terryn (44, Belgian citizen), Group Head of Operations, has agreed to take on this responsibility in addition to his current role until the position can be filled.

These changes, which are effective July 1, will further strengthen the Group’s control and governance functions while clarifying lines of responsibility in key functions.

 

Note to Editors:

Detailed biographies
Yannick Hausmann (born 1967, Swiss Citizen) oversees in his position as Group General Counsel all legal and compliance functions worldwide across the Zurich Group. He joined Zurich in September 2000 as Head of the Corporate Center Litigation and Investigation Team. Since December 2009 he holds his current position. Mr. Hausmann started his career in 1995 with a law firm in Basel. From 1998 to 2000 he worked in the tax and legal department of Arthur Andersen AG and Andersen Legal in Zurich. Since 2009 he has been a member of the Legal Committee of Swiss-American Chamber of Commerce and of economiesuisse. He was previously a member of the Legal and Compliance Group of the Swiss Insurance Association for several years. Mr. Hausmann received a doctorate in Law from the University of Basel in 1995 and was admitted to the Bar in Switzerland in 1997. He earned a Master of Laws (LL.M.) from the New York University School of Law in 2003 and attended the Advanced Management Program at Harvard Business School in 2012. He is an author of a broad range of publications.

Kristof Terryn (born 1967, Belgian Citizen) is a member of the Group Executive Committee and Group Head of Operations of Zurich Insurance Group Ltd (Zurich). He joined Zurich in 2004 as Head of Planning and Performance Management. In 2007 he became Chief Operating Officer for the Global Corporate business division and in January 2009 took over the position of Chief Operating Officer for General Insurance. In his current role, which he assumed in July 2010, he is responsible for the Group’s shared services, IT, procurement and sourcing as well as the operational transformation initiatives. Mr. Terryn started his professional career in 1993 in the banking industry at Dexia in Luxembourg where he worked in the Capital Markets department and in Strategic Planning. In 1997 he joined McKinsey & Company Inc. where he held various positions within the financial services practice in Brussels and the Chicago office. Mr. Terryn holds a law degree and a degree in economics from the University of Leuven, Belgium, as well as an MBA from the University of Michigan.

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Zurich Insurance Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. The Group, formerly known as Zurich Financial Services Group, is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt program which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.

For further information:
Zurich Insurance Group Ltd
Mythenquai 2, 8022 Zurich, Switzerland
www.zurich.com
SIX Swiss Exchange/SMI: ZURN, Valor: 001107539

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