Zurich marks 150 year journey from startup to leading global insurer

Zurich Insurance Group (Zurich) is marking its 150-year anniversary this week by thanking those who have contributed to its success and projecting confidence in the future – a confidence based on the strength of its business and long experience of adapting to change.

Ever since the company was founded in the city of Zurich on October 22, 1872 – originally as a marine reinsurer known as Versicherungs-Verein – Zurich has helped businesses, families and communities to prosper and grow. By reacting constructively to challenges as the modern world emerged, Zurich has evolved into a global business covering more than 210 countries and territories.

“Zurich is in a position to celebrate today because of its ability to successfully navigate an uncertain world,” said Michel M. Liès, Chairman of Zurich. “The last few years have shown that Zurich is as agile and successful as ever and in a very strong position. As we mark this special milestone, we want to celebrate our history and thank our customers, our communities, and our employees in every corner of the world.”

Mario Greco, Group Chief Executive Officer, added: “In recent years we’ve delivered record combined ratios, strong business operating profit and continued top-line growth. Our strong financial position, balanced portfolio and firm reputation enable us to celebrate this anniversary with confidence in our future, knowing that we can be there for our customers and communities when they need us most.”

Since the start of 2016, Zurich has jumped from 10th to 7th-largest insurer globally by market capitalization, and is now No. 2 in Europe. In this period, Zurich has delivered a Total Shareholder Return of 145%, compared with 27% for the STOXX Europe 600 Insurance Index, and customer and employee satisfaction have risen. This performance was achieved against the backdrop of extreme weather events, global pandemic, war in Europe and inflation.

Marking the anniversary, Zurich has produced a digital book with texts and imagery that bring to life the company’s evolution. The project includes a ‘living book’ section for first-person contributions from employees that will continuously be updated, allowing it to be enjoyed well into the future. The stories told by Zurich’s people highlight personal insights and anecdotes from those who have supported, and continue to support Zurich’s transformation.

The book was created together with the young, Zurich-based design agency Panda & Pinguin, set up in 2017 by two former Swiss journalists, Andrea Bleicher and Sabina Sturzenegger. The book is available online, with a limited number of CO2-neutral print copies.