Zurich announces that Josef Ackermann resigns from the Board and Tom de Swaan assumes role of acting Chairman

Zurich, August 29, 2013 - Zurich Insurance Group (Zurich) announces that the Chairman, Josef Ackermann, has informed the Board of Directors that he is resigning from all his functions as a Board member with immediate effect.

The Board of Directors respects and has accepted Josef Ackermann’s decision with deep regret and expresses its gratitude for his dedicated leadership and valuable contribution to the success of the Group.

The Vice-Chairman of the Board, Tom de Swaan, will assume the role of acting Chairman.

Josef Ackermann said, “The unexpected death of Pierre Wauthier has deeply shocked me. I have reasons to believe that the family is of the opinion that I should take my share of responsibility, as unfounded as any allegations might be. As a consequence, I see the possibility of a continued successful Board leadership to the benefit of Zurich called into question. To avoid any damage to Zurich’s reputation, I have decided to resign from all my Board functions with immediate effect.”

Tom de Swaan said, “Working with the Board and Management, I am determined to lead Zurich’s continued success.”

Further information

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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 (ZURVY) program which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.

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