Zurich in Greater China

Zurich has well-diversified businesses worldwide and has servicing capabilities to offer distinctive solutions to customers around the world.

To reinforce our strong global network and capture long-term growth opportunities, Zurich set up the Greater China region in 2005 under the leadership of Johnny Chen. He is responsible for establishing and leading the Group’s renewed focus on the Greater China region, which includes its offices in Mainland China, Hong Kong and Taiwan.

Zurich China

Zurich Financial Services has strong confidence in the Chinese market and developing business in the Greater China region is very important to us. We are committed to sharing our global knowledge and resources to benefit the Chinese people and financial services industry.

In 1993, we were the first Continental European insurer to set up representative offices on Mainland China. Today, we have two representative offices – in Beijing and Shanghai.

In 2000, Zurich gained a foothold in the Chinese market through its strategic investment in New China Life Insurance Company Ltd (‘NCL’)1. To further demonstrate our commitment in this attractive market, we have increased our shares in NCL from 10% to 20%.

1 New China Life Insurance Company Ltd is a national specialized joint-stock life insurance company, with its scope of business covering various life insurance, health insurance and accident insurance services.

Zurich Insurance Company Beijing Branch

October 2005, Zurich received the approval from China Insurance Regulatory Committee (CIRC) to prepare the general insurance branch in Beijing. On May, 2006, Zurich obtained the operation approval from CIRC to open a general insurance branch. Furthermore, Zurich has been granted a general insurance business license by State Administration for Industry & Commerce (SAIC) in May 2006. Hence Zurich is the first foreign insurer to have been granted business license to establish operations with a general insurance branch in Beijing.

Zurich Insurance Company Beijing Branch will focus on serving corporate customers, including foreign customers with activities in China, Zurich global clients in China, and large and medium sized enterprises from China, particularly those with business overseas. In bringing the financial strength and global risk management expertise, Zurich’s strong corporate platform positions us well to provide valuable risk insights and innovative products and services to corporate customers doing business in China.

Zurich Hong Kong

Zurich Insurance Group (Hong Kong) (‘ZIGHK’) offers a full range of Life and General Insurance solutions to both individuals and companies through different channels including agents, brokers, banks and internet. ZIGHK started to offer Eagle Star insurance policies in 1961 and became part of the Zurich Group in 1998. The premium income is approximately HK$3.6 billion today, making it a top 10 insurer in Hong Kong.

Sharing its parent company's commitment to “Corporate Responsibility”, Zurich Insurance Group (Hong Kong) is actively participating in local community programs. Its contribution has been acknowledged with the award “Caring Company” presented by The Hong Kong Council of Social Service since 2002.

Zurich Taiwan

Zurich Insurance (Taiwan) Ltd (‘ZIT’) currently focuses its resources on developing Taiwan’s property and casualty insurance market. Leveraging its world-class operating standards to provide comprehensive insurance services to local clients, ZIT has consistently ranked among the top multinational insurers in Taiwan in terms of premium growth and professional service standards.

Zurich Insurance Taiwan’s was originally the Malayan Overseas Insurance Corp., which was established in 1961. In 1989, Malayan Overseas Insurance Corp. became a member of the Zurich Financial Services Group and was formally re-branded as Zurich Insurance (Taiwan) in September 1998. Currently, Zurich Insurance Taiwan (ZIT) is the only foreign Property & Casualty insurance company with an extensive island-wide service network. ZIT has more than 30 service offices around the island supporting its customers. In 2005, ZIT achieved the total written premiums of NT$4.83 billion.