Zurich Financial Services
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North America Consumer
In 2001, the gross written premiums, policy fees and insurance deposits in the life and non-life insurance business in this region increased from $4,996 million in 2000 to $5,682 million, an increase of 14 percent. However, the net income decreased by 14 percent from $869 million in 2000 to $750 million in 2001 (Refer Table IV). The North American Consumer segment included only individual customers in the US and Canada...
Zurich believed that good corporate performance could be achieved by giving utmost priority to the interests of customers, employees and society. This could help maximize returns to its shareholders. Zurich's companies and employees were engaged in a diverse range of projects and activities in support of corporate citizenship. The company served several community interests through the Zurich Community Trust. The key element of Zurich's community programs was the involvement and commitment of its employees...
During his tenure as chairman, Hüppi had seen Zurich's premium income rise almost three times. Till the late 1990s, there was a significant growth in Zurich's share price as Hüppi adopted a strategy of mergers and acquisitions deals. This led to the expansion of Zurich's business. The company also witnessed higher returns on equity and profits year after year. However, by the late 1990s this growth became stagnant due to the slowdown in the global economy and fierce competition among insurance companies...
Exhibit I: Zurich Financial Services: Consolidated Statements of Income
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