Zurich releases 2019 Annual Report and Sustainability Highlights
- Success of customer-centric strategy highlighted in Zurich’s first online-only Annual Report
- Report presents innovative solutions for customers, including younger generations
- All Board members are standing for re-election at the company’s Annual General Meeting (AGM) on April 1, 2020
- Due to public health concerns, the AGM will be limited to the statutory meeting only, with no reception afterward
Zurich Insurance Group (Zurich) today published its Annual Report detailing the progress made in 2019 on its strategy to lead change in the insurance industry.
Zurich’s ability to adapt to a changing business environment and meet the evolving needs of customers is illustrated in the report with real examples showing how the company is well positioned for the future.
“For nearly 150 years, we have been ahead of our time, embracing innovation while finding new ways to serve and protect those who rely on us. We are proud of all that we have achieved. Our experience and ability to adapt to a changing business environment allow us to look to the future with confidence,” says Group Chief Executive Officer Mario Greco in the report.
With a total shareholder return of 106% from the start of 2016 until end of 2019, Zurich is the largest financial services company in Switzerland and in February 2020 it became the second-largest insurer in Europe in terms of market capitalization.
The Annual Report gives an overview of Zurich’s strategy, structure, executive bodies, corporate governance, remuneration, risk management, financial review and business environment. It also offers detailed metrics showing Zurich’s progress on sustainability.
As part of its sustainability approach, for the first time Zurich has published the report online only, saving about 1 million pages of paper.
This year’s report emphasizes Zurich’s customer-focused strategy, highlighting innovative ideas and solutions designed to directly benefit customers. For example:
- For retail customers, an app introduced in Australia in 2019 rewards life insurance customers for adopting healthy lifestyles.
- For businesses, Zurich’s risk engineers are helping companies become more sustainable by reducing risks associated with photovoltaic systems.
- Zurich is proud to feature employees in the report, including younger ones who are playing a leading role in positioning its business for the future. For the first time in the report we provide information on retention rates of employees by age (‘boomer’, Gen X, Gen Y).
Along with details about its financial year following publication of full-year 2019 results on February 13, 2020, the report includes also non-financial metrics on customers, our people, charitable contributions, responsible investment including green bonds, environmental performance and tax contributions.
Zurich also published today its Sustainability Highlights 2019 report, which outlines our achievements and progress in our role as an insurer, investor, employer and in society. It underscores our continued focus around the themes of climate change, confidence in a digital society and work sustainability.
Participation in the Annual General Meeting of April 1, 2020
Zurich has published today the invitation to the Annual General Meeting on April 1, 2020, and the Board of Directors’ report on the approval of the remuneration of the Board of Directors and of the Executive Committee.
As public health authorities discourage large gatherings, Zurich has decided this year to hold a smaller Annual General Meeting. In the interests of shareholders and employees, the event will be limited to the statutory meeting only, with reduced attendance by its representatives and staff, and no reception afterward. Zurich encourages shareholders to give their voting instructions to the independent voting rights representative rather than attend the event in person.
Subject to the re-election of the members of the Board by the shareholders at the upcoming Annual General Meeting, the Board of Directors of Zurich will consist of the following members:
- Michel M. Liès, Chairman
- Joan Amble
- Catherine Bessant
- Dame Alison Carnwath
- Christoph Franz
- Michael Halbherr
- Jeffrey Hayman
- Monica Mächler
- Kishore Mahbubani
- Jasmin Staiblin
- Barry Stowe
More information about Zurich’s corporate governance structure can be found here.
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Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The 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.