Dateline: 19/10/1999
SCHAUMBURG, IL-- Zurich U.S., a leading commercial property and casualty insurance company, announced today the expansion of its Political Risk operation to London. The expansion will bring the Political Risk group in closer contact with U.K. and European customers and specialist brokers, as well as expand the capabilities of Zurich Specialties London, located at 3 Minster Court.
"We have strategically planned to expand to London in response to the global nature of our business and our growing number of U.K. and European customers," said Ken Sroka of Zurich U.S. Specialties.
Edward Coppola, Senior Underwriter, will lead the London operation in delivering political risk solutions to financial institutions, international infrastructure developers and fixed income securities investors in emerging markets.
"We are very fortunate to have Ed in the London operation. His expertise in delivering world-class political risk underwriting solutions is well-known in the marketplace, which will also assist us in enhancing our relationships with insureds and furthering our partnerships with U.K. and European public agencies," said Dan Riordan, Vice President and Managing Director, Zurich U.S. Political Risk.
Mr. Coppola joined Zurich U.S. in September 1997 to underwrite political risk coverages in Zurich’s Washington, D.C. location. Prior to joining Zurich U.S., he was Regional Manager for Europe, Central Asia and the newly Independent States at the Multilateral Investment Guarantee Agency (MIGA.) From June 1987 to December 1989, he served as an insurance officer for Latin America at the Overseas Private Investment Corporation (OPIC). Mr. Coppola began his career in 1984 as a claims officer at the Export-Import Bank of the United States.
Mr. Coppola received a Masters in Business Administration degree from the University of Michigan and a Bachelor of Arts degree from Michigan State University.
The Specialties group at Zurich U.S. provides coverage for complex and/or unique third party liability exposures. Zurich U.S. is a member of the Zurich Financial Services Group, a global leader in the financial services industry. Providing its customers with products and solutions in the area of financial protection and asset accumulation, the Group concentrates its activities in four core businesses: non-life and life insurance, reinsurance and asset management.
Headquartered in Zurich, Switzerland, the Group's worldwide presence builds on strong positions in its three home markets - the United States, the United Kingdom and Switzerland. The Zurich Financial Services Group has offices in more than 60 countries reaching over 30 million customers and employing some 68,000 people. In 1998, gross written premiums for the Group totaled $45 billion. This figure includes life insurance deposits and the premiums written in the Farmers Insurance Exchanges. Total assets under management, at the end of 1998, increased to $415 billion.
