Zurich une fuerzas con Banco Sabadell para ser lider en el mercado español.
11 de julio de 2008

Acquisition of 50% stake in Banco Sabadell’s insurance operations positions Zurich among the top 2 insurers in Spain

Zurich, July 11, 2008 – Zurich Financial Services Group (Zurich) announced today that it has signed an agreement to acquire a 50% stake in the life insurance, pension and general insurance operations of Banco Sabadell S.A. (Banco Sabadell), while establishing a long-term strategic distribution partnership with the fourth largest bank in Spain. As a result of the agreement, Zurich is set to become the second largest insurance group in Spain.

“We have always said we wanted to increase our market position in this important market,” commented Zurich’s Chief Executive Officer (CEO) James J. Schiro. “It is also consistent with our multi-distribution strategy, and reflects our disciplined approach to acquisitions.”

The agreed transaction represents a significant expansion of Zurich’s insurance operations in Spain, and builds upon the two acquisitions the Group has announced there over the past four months. With these acquisitions, Zurich becomes the fourth largest life and fourth largest general insurer in Spain¹. This transaction aims to further strengthen and consolidate Zurich’s competitive position and profitability by combining Banco