History
The company was founded in 1872 as a marine reinsurance under the name “Versicherungs-Verein” (Insurance Association), a subsidiary of the Schweiz Marine Company. In 2000, after a number of acquisitions, it was unified to form one holding company – Zurich Financial Services.
In April 2012, Zurich Financial Services Ltd changed its name to Zurich Insurance Group Ltd. The name change reflects that in recent years Zurich has streamlined its business portfolio to concentrate on insurance. In a statement the group explained the rationale behind the name change. “In recognition of this strategic focus, the reference to financial services in the company name has been replaced by indicating the insurance activity of the Group instead and to specify the purpose accordingly.”
Read more about this topic: Zurich Insurance Group
Famous quotes containing the word history:
“Racism is an ism to which everyone in the world today is exposed; for or against, we must take sides. And the history of the future will differ according to the decision which we make.”
—Ruth Benedict (1887–1948)
“Revolutions are the periods of history when individuals count most.”
—Norman Mailer (b. 1923)
“... in a history of spiritual rupture, a social compact built on fantasy and collective secrets, poetry becomes more necessary than ever: it keeps the underground aquifers flowing; it is the liquid voice that can wear through stone.”
—Adrienne Rich (b. 1929)