Zurich Financial Services Group announced that it will expand its services for corporate customers in Norway and Denmark through the establishment of two new branches of Zurich Insurance Ireland Limited (ZIIL), its principal subsidiary for the European Union.
ZIIL, which is headquartered in Dublin, also operates in Belgium, Finland, France, Italy, Sweden, the United Kingdom and the Netherlands. The two new branches are planned to become operational in the first quarter of 2008.
Geoff Riddell, CEO of Zurich Global Corporate, indicated that the opening of the two new offices “reflects Zurich’s commitment to profitably grow our European Corporate business in selected markets and broaden our General Insurance products and services offering in Europe.”
Since 2002, Zurich has managed its Global Corporate business in Denmark and Norway through Scandinavian insurer TrygVesta.
Zurich’s Norway and Denmark offices will “initially focus on developing new business opportunities,” said the bulletin. “The current network cooperation with TrygVesta will terminate at the end of 2008. Consequently, risks placed in the network in 2008 will be handled by the parties until the individual risk expires. Since policies are normally concluded within a one year term, risks will have expired by December 31, 2009 at the latest.”
Source: Zurich – www.zurich.com
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