How Insurance Company history

1874 Global from the start Accounts in the monthly balances of the Versicherungs Verein document business relations reaching as far as New York.

1879 Core principle and on-site marketing Zurich argues in its annual report that setting premiums too low will result in unfair claims handling which in turn damages the reputation of the insurance industry.

As Alpina is strong in marine insurance Zurich indirectly reenters a line of business it abandoned in 1880.

1882 The dawn of Risk Engineering The head of Zurich’s Frankfurt office publishes a brochure about protecting factory workers from the dangers of industrial production with a list of safety proposals.

1886 Political risk and innovation In a setback for Zurich, workmen’s compensation is nationalized in Germany.

1889 Caring for employees A fund to support Zurich employees in case of temporary illness and disability is established.

1898 A legislative boost, cars and pensions Zurich’s French business is boosted by new workmen’s compensation laws making accident insurance compulsory for most industries.

The United States did not attempt to join this social revolution until the early 1900’s.

1912 Into the New World In December, Zurich gains the necessary licenses to start business in the United States By the end of its first business year, the American business already makes up 9% of Zurich’s overall premium income.

1917 Accident insurance in war The experience of the war promotes ideas for new products: Accident insurance for soldiers serving behind the front; insurance against accidents with mines and bombs.

Seven years later, in 1920, the United States is Zurich’s main market, accounting for 50 percent of its overall gross written premium.

1923 Canada A branch office is opened in Canada.

The VITA life insurance company becomes the first life insurance company on the European continent to introduce free medical check-ups for its customers, an idea first established in the United States By 1928 a customer periodical The VITA Adviser is introduced to promote healthy lifestyles.

1929 Zurich Fire Insurance Company of New York is founded.

1930 World economic crisis, acquisitions and the dawn of electronic data processing

1935 Meeting the needs of women Zurich introduces a special accident insurance for women.

1939 American Guarantee and Liability Company founded in New York

1945 Well positioned Zurich’s global reach, and particularly its strong presence in North America, leaves it well positioned in the post-war period.

1951 Morocco A branch office is set up in Casablanca, Morocco.

Altstadt was founded in 1959 by the American insurer Allstate as its first foreign operation.

1961 The fifth continent Zurich enters Australia with the acquisition of the Commonwealth General Assurance Corporation.

1969 Stepping into the German insurance hub Zurich consolidates its position in the German market by acquiring Agrippina Insurance Holding Cologne.

The nationalization of the entire insurance industry in 1972 forces Zurich out of India.

1976 Umbrella programs The International Division is founded.

1980 A serious move into Asia – further expansion in the United States

1984 Brazil – Train the customer Acquisition of a majority interest in Anglo-Americana de Seguros Gerais in Sao Paulo, Brazil.

1989 Consolidation and largest takeover For the first time, Zurich publishes consolidated Group financial statements.

1993 Reaching out to Asia-Pacific Zurich opens a representative office in Beijing and gets a foothold in Mainland China.

1998 Reaching for the stars Zurich and the financial services arm of UK-based B.A.T Industries (Eagle Star, Allied Dunbar, Threadneedle Asset Management in the UK and Farmers Insurance in the United States) combine insurance and financial services activities to become Zurich Financial Services.

2003 What gets measured gets done Zurich announces it is on track with its ambitious goals and records significant net income.

2006 A record year In 2006, the Group achieves record results. It reports a business operating profit of USD 5.9 billion, an increase of 48 percent over 2005, and a return on common shareholders' equity of 19 percent.

2006 A record year In 2006, the Group achieves record results.

2008 Steering clear Care and discipline help Zurich navigate the financial crisis in 2008 and the company delivers positive results and a solid investment return.

2011 Global reach Zurich reaches two notable milestones in its selective emerging market expansion.

In 2013 Zurich announces a CHF 21 million five-year alliance with the International Federation of Red Cross and Red Crescent Societies to enhance community flood resilience and a five-year collaboration of up to CHF nine million with Practical Action, which will also focus on flood resilience.

Mario Greco takes over as Group CEO in March 2016.