Zurich Financial Services
22 June 2007
Zurich focuses its direct businesses in Europe, new management appointed
Zurich Financial Services
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Zurich, June 22, 2007 - Zurich Financial Services Group (Zurich) announces the
establishment of a new business unit for its direct business in Europe effective
July 1, 2007. The new unit, called Direct Business, will be part of Zurich's
Europe General Insurance (EGI) business division and will bring all existing
personal and small commercial direct insurance operations in Europe under one
management structure.*)
Zurich is a leading direct insurer in Europe with direct business capabilities
in all Western European countries where it is active, with clear market
leadership in Germany, Switzerland and Austria. This new structure allows it to
serve customers with partners on a real European scale.
Theo Bouts (48, Dutch citizen) was appointed CEO of the new unit. As Chief
Operating Officer for EGI since June 2005, he has driven the progression of
Zurich's local direct insurance businesses in Europe towards a pan-European
insurance platform. In his new role, he will concentrate on further
strengthening this important distribution channel.
Annette Court, CEO EGI, said: 'While we remain firmly committed to agent and
broker channels, an increasing number of customers wish to buy insurance through
the internet or a call center. The establishment of the new Direct Business Unit
will ensure that we can capitalize on the exponential growth opportunities this
fast growing distribution channel offers across Europe, and ensure that our
customer can buy our products and services through whichever distribution
channel they prefer.'
Claudia Dill (41, Swiss citizen), currently Chief Financial Officer (CFO)
Europe, will succeed Theo Bouts as Chief Operating Officer effective July 1,
2007. Since joining Zurich in 1999, she held various Group positions at Zurich
such as CFO of Group Reinsurance before becoming CFO Europe in 2003.
Stefan Mader (44, Swiss citizen) will succeed Claudia Dill as CFO Europe also
effective July 1, 2007. He has been serving as CFO for Zurich Switzerland since
2004. His successor at Zurich Switzerland will be announced shortly.
*) Changes related to the new structure are subject to applicable regulatory
approvals.
Zurich Financial Services Group (Zurich) is an insurance-based financial
services provider with a global network of subsidiaries and offices in North
America and Europe as well as in Asia Pacific, Latin America and other markets.
Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs
approximately 55,000 people serving customers in more than 150 countries.
This information is provided by RNS
The company news service from the London Stock Exchange