Zurich Insurance Group

Zurich Insurance Group was founded in 1872 by an insurance broker named Johann Jakob Meyer. Originally established as a marine reinsurance company, it soon expanded into other types of insurance, starting with accident insurance in 1875. The company transformed its business rapidly and became one of the leading insurers in Switzerland.

In 1912, Zurich Insurance extended its operations beyond Europe for the first time by establishing a subsidiary in Chicago, marking the company's initial steps towards becoming a global insurer. This move was part of Zurich's broader international expansion strategy.

In 1998, Zurich made a strategic merger with the financial services company B.A.T Industries' financial services arm, creating Zurich Financial Services. This merger allowed Zurich to expand its financial services offerings and provided a wider scope of services to its customers globally.

Following the September 11 attacks in 2001, Zurich Insurance Group was heavily involved in processing insurance claims related to the tragic events. The attacks had a significant impact on the insurance industry, and Zurich was part of the global response that addressed the needs of those affected, highlighting the group's resilience and adaptability in crisis situations.

In December 2016, Zurich Insurance Group expanded its footprint in the United States by acquiring Rural Community Insurance Services (RCIS), a leading provider of crop insurance in the country. This acquisition underscored Zurich's strategic focus on agriculture insurance and reinforced its commitment to the North American market.

In 2017, Zurich launched the Innovation World Championship, a competition that promotes innovative ideas in insurance and risk management from startups and entrepreneurs worldwide. This initiative reflects Zurich's commitment to fostering innovation to improve customer experiences and address new market challenges.

In November 2018, Zurich Insurance Group announced its plan to progressively reduce carbon emissions in its investments as part of its sustainability strategy. The company pledged to invest in green projects and reduce its carbon footprint, aligning itself with global efforts to combat climate change.

Zurich Insurance Group expanded its reach in Asia by launching Zurich Takaful Malaysia Berhad, its Islamic insurance arm, in 2019. This move aimed to cater to the growing Muslim market in the region, offering products that comply with Islamic financing principles and further solidifying Zurich's presence in Asian markets.

In late 2020, Zurich Insurance Group accelerated its digital transformation journey, investing in new technologies to enhance its operational capabilities and customer engagement. This initiative aimed at modernizing Zurich's IT infrastructure to remain competitive in the digital age and improve service delivery.

In April 2021, Zurich Insurance Group announced the acquisition of MetLife's property and casualty business through its subsidiary, Farmers Group, Inc. This acquisition marked a significant expansion in Zurich's U.S. market presence and supported its growth strategy by broadening its customer base and product offerings in North America.

In September 2022, Zurich Insurance Group celebrated its 150th anniversary, marking a century and a half of evolution from a local insurer in Switzerland to a global insurance leader. The celebration highlighted Zurich's rich history and its ongoing commitment to innovation and customer service.