Smith Retires as CEO of Zurich's Universal Underwriters Group

July 15, 2005

Schaumburg, Ill.-based Zurich North America announced that Stephen Smith has retired as CEO of Universal Underwriters Group, a business unit of of the company's commercial division. Universal Underwriters Group was recently sold to a group of investors led by Hellman & Friedman LLC, a San Francisco-based private equity investment firm. Smith had agreed to stay on until the sale was completed.

Until the transaction closes, Thomas A. Bradley, chief financial officer of Zurich North America Commercial, will serve as interim CEO of Universal Underwriters.