Zurich Financial Services
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Case Code: BSTR113 Case Length: 24 Pages Period: 1990 - 2002 Pub Date: 2002 Teaching Note: Not Available |
Price: Rs.500 Organization: Zurich Financial Services Industry: Financial Services Countries : Switzerland Themes: Corporate Strategy |
Abstract Case Intro 1 Case Intro 2 Excerpts
History
Zurich was founded in 1872 under the name Versicherungs-Verein in Zurich. On May 1, 1873, the Versicherungs-Verein started providing reinsurance services to Schweiz Insurance. In 1875, Zurich entered the accident insurance segment and the company was renamed Transport & Unfall-Versicherungs-Actiengesellschaft "Zurich." Since its inception, Zurich had focused on establishing international presence. The company believed in providing quality services to its customers, and offering them innovative products on a continuous basis. By 1880, almost 80 percent of Zurich's revenues came from outside Switzerland. Germany was the biggest market for Zurich contributing to 60 percent of its revenues, while the remaining revenues came from France, Austria, Denmark, Sweden and Belgium. By 1894, Zurich had expanded its operations in Prussia, Norway, Holland, Spain, Poland, Belorussia, Russia, Italy, Luxembourg and Liechtenstein. In the same year, Zurich changed its name to "Zürich" Allgemeine Unfall & Haftpflicht-Versicherungs-Aktiengesellschaft (as a result of shifting from marine insurance to accident and liability insurance)...
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