Zurich Financial Services Group today announced that the Board of Directors will propose a name change to the Annual General Meeting of shareholders on March 29, 2012. Over the last years Zurich has streamlined its business portfolio to concentrate on insurance. In recognition of this strategic focus, the Board of Directors proposes to replace the reference to financial services in the company name by indicating the insurance activity of the Group instead and to specify the purpose accordingly. The name as proposed by the Board of Directors is Zurich Insurance Group Ltd.
Furthermore, Zurich announced today that the Board of Directors will – following the retirement of Manfred Gentz and Vernon Sankey – propose to the Annual General Meeting the election of Alison Carnwath (born 1953, British) and Rafael del Pino (born 1958, Spanish) to the Board of Directors. In addition, the Board will propose the re-election of Josef Ackermann, Thomas Escher und Don Nicolaisen for another term of office. The Board will communicate its intended structure, including the proposed Chairman, in due course ahead of the AGM.
Manfred Gentz, Chairman of the Board of Directors of Zurich, commented: “We are delighted to have secured the agreement of Alison Carnwath and Rafael del Pino, and propose them to be added to the Zurich Board. Their wide-ranging and international experience in the financial services industry as well as other sectors is bound to add welcome and diverse expertise to our Board.”