Schaumburg, Ill. – Zurich, a leading property and casualty insurance provider globally and in North America, announced today confirmed plans to transfer its book of Aftermarket business and related brokered business to Arrowhead General Insurance Agency, Inc., a program administrator.
Tina Mallie, President of Zurich’s Programs & Direct Markets business, said that the decision to enter into the agreement with Arrowhead was centered on finding the optimum way to deliver what’s best for Zurich’s Aftermarket customers.
As part of this decision, approximately 170 Zurich employees from sales, underwriting, operations and customer service will move to employment with Arrowhead, effective October 1, 2012, to serve the existing book of business as well as add new business. As part of the transition, Adam Johnson, currently head of Zurich’s Aftermarket business, will join Arrowhead to lead and manage the program.
“Zurich and Arrowhead have an established 15 year relationship, and we are both deeply committed to the mutual success of this venture,” said Mallie. “We will continue to collaborate on product development, system improvement and marketing efforts to ensure our Aftermarket customers benefit from the combined strength and resources of this new relationship.”
Chris Walker, Chief Executive Officer of Arrowhead said, “Zurich and Arrowhead have built a large, longstanding profitable relationship around transparency, respect and trust and we are honored that Zurich selected Arrowhead. Our focus is now on a seamless transition for our Aftermarket customers and our new team members. We are confident our mutual goals will be achieved with Adam Johnson’s leadership, Arrowhead’s robust infrastructure and the talented people joining Arrowhead. We are excited and ready to get to work.”
Zurich Insurance Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. The Group, formerly known as Zurich Financial Services Group, is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt program which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
In North America, Zurich is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, specialties and programs sectors. Life insurance offered in the United States is issued by Zurich American Life Insurance Company, an Illinois domestic life insurance company. For more information about the products and services it offers and people Zurich employs around the world, go to http://www.zurichna.com/zna/
Arrowhead General Insurance Agency, Inc., headquartered in San Diego, is a national insurance program manager for commercial and personal products and is one of the largest in the U.S. with $654 million written premium in 2011. Arrowhead’s relationships with over 20 top-ranked insurance carriers provide stability for its nationwide network of producers. Arrowhead is a subsidiary of Brown & Brown, Inc. (NYSE: BRO), which is ranked by Business Insurance magazine as the seventh largest independent insurance intermediary in the U.S. with $1 billion total revenue. For more information, please visit ArrowheadGrp.com and BBinsurance.com.