Valerie Butt Joins Zurich Corporate Solutions Team

Dateline: 09/12/1998

SCHAUMBURG, IL, December 9, 1998 -- Valerie Butt of San Francisco recently joined Zurich Corporate Solutions (ZCS) as vice president of marketing. She will work with Randall Clouser, head of Zurich Corporate Solutions, in developing and promoting ZCS’s economic model for risk integration to corporate customers.

Zurich Corporate Solutions is an initiative of Zurich-American Insurance that combines insurance and reinsurance capabilities with the capital markets expertise of Zurich Capital Markets.

Before joining Zurich, Ms. Butt served with Centre Solutions in San Francisco as a vice president of underwriting. She was formerly a risk management consultant with Hewlett-Packard, where she developed risk management solutions and business continuity methods for internal operations. Previously, she served as an account direct of client services with Sedgwick for Fortune 500 accounts.

Ms. Butt holds a B.A. in risk management and insurance and an MBA in finance and risk management from the University of Georgia. She also earned both CPCU and ARM professional designations.

Zurich-American Insurance is a member of the Zurich Financial Services Group, one of the global leaders in the financial services industry. Zurich Financial Services Group provides its customers with products and solutions in the area of financial protection and asset accumulation.

(Based on pro-forma consolidated figures for 1997, the Group achieved gross premiums of more than $44 billion. This amount includes insurance deposits as well as premiums from the Farmers Exchanges. The pro-forma net income for the year 1997 amounted to $2.1 billion. On December 31, 1997, the Zurich Financial Services Group had $375 billion of pro-forma assets under management of which $222 billion represent funds managed for third-party institutional and retail customers.)- 30 –

Media Contact:
Chris Tasher/847-605-6372/chris.tasher@zurich.com