Zurich North America Commercial's Surety, Credit and Political Risk group voted ‘Best Trade Insurer in Asia’ by readers of Trade Finance magazine
Strategic expansion into Asia acknowledged through readers’ voting
Schaumburg, Ill., July 6, 2010 – Zurich North America Commercial’s Surety, Credit and Political Risk group has been voted “Best Trade Insurer in Asia” and “Best Private Insurer” for 2010 by the readers of Trade Finance magazine. This is the ninth consecutive “Best Private Insurer” win for Zurich, a leading underwriter of political risk and trade credit insurance, and its second time honored as “Best Trade Insurer in Asia.” The unit, based in Washington, D.C., develops coverages for customers investing and trading in more than 150 emerging markets around the world. Each year, Trade Finance (a Euromoney publication) conducts a readers’ poll that recognizes leading providers and arrangers of trade finance products and services.
“Readers of our magazine obviously hold Zurich in high regard,” said Oliver O'Connell, editor of Trade Finance. “These awards recognize Zurich's leadership position in this sector and are a considerable achievement given the volatility the market has experienced recently.”
In acknowledging the awards, Michael Bond, head of Zurich’s International Surety, Credit and Political Risk group, said, “The awards this year are particularly meaningful given the turmoil in the global markets that impacted nearly every one of our customers. Throughout the economic crisis, Zurich remained a stable source of capacity. When many trade credit and political risk insurers decided to reduce lines, reduce capacity, or step away from the market, Zurich made a strategic decision to stay in the market and support our customers.”
Zurich Surety, Credit & Political Risk is one of the leading providers of contract and commercial surety, trade credit and political risk insurance products worldwide. Zurich Surety, Credit and Political Risk serves customers through underwriting offices located in 35 cities throughout North America, as well as Barcelona, Beijing, Frankfurt, Hong Kong, London, Paris, Sao Paulo, Singapore, Sydney, Tokyo and Zurich.
Zurich provides surety bonds, political risk and trade credit insurance for financial institutions, multinational corporations, investors, exporters, contractors and infrastructure developers in North America and emerging markets.
Zurich is a member of the Berne Union, an international union of credit and investment insurers, as well as ICISA, an international association of trade credit insurers and surety bond providers.
About Zurich
Zurich in North America is a part of Zurich Financial Services Group (Zurich), an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland and employs approximately 60,000 people serving customers in more than 180 countries, including more than 9,500 employees in North America.
Zurich entered the U.S. market in 1912. According to Highline Data LLC (NAIC 2008), Zurich in North America (www.zurichna.com) is the second-largest writer of commercial general liability insurance and the fourth-largest commercial property-casualty insurance company, serving the global corporate, large corporate, middle market, specialties and programs sectors. Zurich's risk engineering services in the United States are provided by Zurich Services Corporation.
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Media contact:
Steve McKay
Zurich
(847) 706-2265
steven.mckay@zurichna.com