Zurich Insurance Group is an insurance company based out of Zurich in Switzerland. Popularly known as Zurich, the company happens to be the largest insurance company in the country. Its services are classified into three different financial segments, namely Global Life, General Insurance and Farmers. With more than 60,000 customers, the company operates in close to 170 countries of the world.
Founded in the year 1872, Zurich Insurance Company was earlier known as Versicherungs- Verein, which means Insurance Association. The company was launched with an aim of reinsuring the marine and operated as a subsidiary for another company known as Schweiz Marine Company. The company went on to make a number of acquisitions and all the acquired companies were combined together to form Zurich Financial Services in the year 2000. However, in the year 2012, the company changed its name and renamed itself as Zurich Insurance Group. The higher officials felt that since the company dealt largely in insurance, the term financial services did not seem to be an apt description and hence suggested a name change.