Claims to increase Zurich's transparency, enable it to manage capital, dividend flow
Zurich Financial Services Group (Zurich) has completed a step in the rationalization of its Group holding legal entity structure. As part of the overall legal restructuring, Zurich Group Holding (ZGH), has been merged into Zurich Financial Services.
To enable this transaction, Allied Zurich, a subsidiary of Zurich Financial Services, had sold its 42.3% share in ZGH to Zurich Financial Services on August 19, 2009. As two layers of holding companies were effectively taken out, Zurich Financial Services is now the immediate holding company of Zurich Insurance Company, the Group’s main operating company.
The company claims that the further simplification will increase its flexibility and transparency and enable it to manage its capital and dividend flow.
Zurich is an insurance-based financial services provider with a network of subsidiaries and offices in North America, Europe and in Asia Pacific, Latin America and other markets. The Group is headquartered in Zurich, Switzerland.