Zurich’s Global Life segment targets New Business Value of USD 1.2 billion by 2010, up 40% over the previous targe

Zurich.– Zurich Financial Services Group (Zurich) announced today a revised New Business Value target for its Global Life segment of USD 1.2 billion by 2010. The new target, to be announced at an analyst presentation in Zurich, represents an increase of 40% over the previous target of USD 850 million and reflects the proven financial and operating strengths Global Life has achieved over the past years, as well as its accelerated growth strategy.

“The revised New Business Value target is driven by the refinement of our strategic direction from a portfolio of country and niche positions to a global life franchise,” remarked Zurich’s Global Life Chief Executive Officer, Mario Greco. “We will change in three fundamental ways. We will focus on three global distribution channels to better serve local customers, target three specific global customer groups, and centralize core capabilities delivered through regional hubs.”

This global approach is supported by growth initiatives and further operational transformation, which will be discussed at the investors’ conference today. This conference can be followed live on our website, and will subsequently be available for video replay. The presentations will also be available for download. Details are in the note below.