Zurich history

The board of Versicherungs-Verein recognized the sign of the times and broke new ground in Switzerland with its introduction of accident insurance, which occurred in 1875.

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.

The Berlin branch which was opened in 1880 came to take on a particularly important role in the company's further development, since it was from here that business in Denmark, Norway, Sweden, Finland, and Russia was coordinated.

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.

Zurich re-enters Russia 111 years after it had done so for the first time in 1885 by acquiring a 49% stake in the industrial insurer Westrosso.

1887 Insuring the Swiss military Zurich enters into an agreement with the Swiss ministry of defense to provide accident insurance to soldiers during three-week annual training exercises.

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

The expansion of business into these areas led to the company's change of name to the Zürich Allgemeine Unfall- und Haftpflicht-Versicherungs Aktiengesell-schaft (Zurich General Accident and Liability Insurance plc) on December 14, 1894.

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.

Above all, it also developed its workers' accident insurance business in France and considerably expanded its business in offering insurance against liability in Germany, where the introduction of the Civil Code on January 1, 1900, extended the need for such insurance into numerous new areas.

1901 The most beautiful business premises The construction of the new Head Office at Mythenquai 2 in Zürich is completed.

By 1909, the ratio of reserves to premiums exceeds 150 percent for the first time.

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.

1915 First acquisition of an entire company For the first time, Zurich purchases an entire company, Barcelona-based Hispania Compania General de Seguros.

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.

1922 Remaining and expanding internationally, Life insurance and new accident products

The Deutsche Allgemeine Versicherungs-Aktiengesellschaft (German General Accident Insurance Ltd.), founded in 1923, concentrated particularly on offering motor insurance through direct sales.

In 1925 an agreement was made with Ford, the largest car manufacturer of that time, whereby preferential insurance terms were offered on Ford cars.

During the first 50 years of its existence, Zurich's activities were limited to damage and accident insurance. It showed pioneering spirit when in 1926 it introduced a health service which offered regular checkups with a doctor and published medical leaflets giving advice on healthy living.

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.

VITA quickly expands using Zurich’s network and 1930 has its own organizations in Belgium, Germany, the Netherlands, Spain and France.

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

Turegum, a Swiss subsidiary of Zurich Insurance Company founded in 1938, established a London branch to write re-insurance.

1939 American Guarantee and Liability Company founded in New York

1941 Come into the Safety Zone! Zurich United States introduces its Safety Zone Program aimed at improving safety standards at insured factories, especially those involved in defense production during World War II.

1946 Messieurs, on continue! Workmen’s compensation is nationalized in France, Zurich’s third largest national market in terms of gross written premium.

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

The company's expansion into further sectors was reflected in its change of name to Zürich Versicherungs-Gesellschaft (Zurich Insurance Company) in 1955.

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

The Frankfurt tower block next to the old opera house became the administrative center for the German Zurich network in 1961.

1962 India – Dangerous innovation: The Turegum scandal

In 1965 Zurich bought the Alpina Versicherungs-Aktiengesellschaft in Switzerland, which had established its own network abroad.

In 1968, VITA introduced standardized jogging and exercise courses.

In 1969 Agrippina Versicherungs AG was acquired from a private bank.

In 1970 fire insurance was also offered by the company for the first time in Switzerland.

Having opened a representative office in Hong Kong in 1973, Zurich enlarges its engagement in East and South East Asia by acquiring a minority interest in the largest Philippine insurer, the Malayan Group.

1975 Insuring international corporations CEO Fritz Gerber initiates the establishment of the Zurich International Division (today’s Global Corporate) by asking Rolf Hüppi, who later became CEO, to develop a concept around the special insurance needs of corporations operating internationally.

1976 Umbrella programs The International Division is founded.

1978 A new perspective on risk Risk Engineering is founded as part of the International Division.

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

1982 Bringing Altstadt home Acquisition of Altstadt Versicherungs-AG in Switzerland.

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

1989: Baltimore-based Maryland Casualty Group is acquired.

The group had first entered this sector in 1990 with the establishment of Zurich Investment Management.

In 1991 Rolf Hüppi took over as president and CEO of Zürich, with Gerber remaining chairman.

United States operations were expanded in 1993 with the establishment of Zurich Reinsurance Center, which quickly became one of the largest reinsurers in the United States.

In early 1996 Zurich, through a $2 billion transaction, acquired an 80 percent interest in Kemper Corporation, which was headquartered in Long Grove, Illinois, and a 97 percent interest in Kemper Financial Services, the latter being the asset management unit of the former.

1997: Zurich gains majority control of Scudder, Stevens & Clark, which is merged into Zurich Kemper to form Scudder Kemper Investments (later renamed Zurich Scudder Investments).

Further growth occurred in 1998 when Zürich merged with British American Financial Services (BAFS), the financial services unit of U.K.-based B.A.T. Industries PLC, in a $38 billion transaction.

The company went on to make a number of acquisitions and all the acquired companies were combined together to form Zurich Financial Services in the year 2000.

Disappointing groupwide earnings led to the announcement in early 2001 that Zurich planned to exit from the reinsurance market in order to focus on non-life insurance, life insurance, and asset management.

Zurich also planned to restructure its head office with the aim of achieving annual savings of $200 million by 2002.

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.

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.

The company won the award for Best Insurance Services from Charity Times in the year 2009.

It also was ranked 94th in 2011 on the top 100 brands list prepared by Interbrands.

However, in the year 2012, the company changed its name and renamed itself as Zurich Insurance Group.

In 2015, Zurich became the first global company in the insurance industry to be certified by 'EDGE' (Economic Dividends for Gender Equality). Zurich is making progress in creating a diverse environment that brings out the best in Zurich employees and attracts the brightest talent.

In July 2016, Zurich introduces a simpler, more customer-oriented approach to support global and local businesses.

In 2017 Zurich acquires Cover-More Group Limited, a travel insurance and assistance solutions provider, and Halo Insurance Services Limited, a distributor of insurance related to vehicle hire.