SHAPING
ZURICH FOR TOMORROW
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Zurich is one of the world's largest insurance
groups, and one of the few to operate on a truly global basis. Our mission is to
help our customers understand and protect themselves from risk. With over 60,000
employees serving in more than 170 countries, we aspire to become the best
global insurer as measured by our shareholders, customers and employees.
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Zurich - The Global Insurer
Zurich has strong
positions in personal, commercial and corporate insurance in North America and
Europe, and growing positions in Asia-Pacific, the Middle East and Latin
America.
Our Values
We believe being a
responsible, sustainable company is an element of good management and essential
to how we do business. We aim to deliver on our brand promise, developing an
agile organization, maintaining our financial discipline, and staying true to
our core values of integrity, customer centricity, excellence, teamwork and
sustainable value creation.
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Our business is divided into three
core segments:
General Insurance
General Insurance is the
segment through which our Group provides a variety of motor, home and commercial
products and services for individuals, as well as for small and large
businesses.
Global Life
Global Life is a key
growth engine for our Group. We help customers feel confident about their
financial futures by offering leading life insurance, savings, investment and
pensions solutions.
Farmers
Farmers includes Farmers
Management Services which provides non-claims management services to the Farmers
Exchanges (which we do not own), as well as the Foremost and 21st Century brands
in the United States, and Farmers Re.
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Our perfomance
USD4.3
bn
Business Operating Profit
(for the year ended
December 31, 2011)
AA- / Stable
Standard & Poor's
financial strength rating of Zurich Insurance Company Ltd, March 2011
223%
Swiss Solvency Test
capitalization ratio as filed with the regulator for the year ended December 31,
2010*
*Result for the Group on
a consolidated basis, subject to the regulator's review and approval of the
internal model.
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FREQUENTLY
ASKED QUESTIONS
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Dear Valued Customers,
As of October 1, 2011, MAA is now
part of the Zurich Group. This Frequently Asked Questions (FAQ) sheet provides
you with answers to questions that you may have about this transaction, any
impact to your existing policies, benefits and service procedures, and the
Zurich Group. If you need further information, you may contact us or call the
Customer Service Hotline 1300 888 622 or 03-2146 9999.
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About the Transaction
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Service Procedures
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Q: What has happened?
A:
Zurich Insurance Company Limited, a subsidiary of Zurich Financial Services
Group (Zurich), has acquired 100% of the share capital of Malaysian Assurance
Alliance Berhad (MAA) from MAA Holdings. This transaction was completed on
September 30, 2011. Therefore, MAA is now a subsidiary of Zurich. Zurich is keen
to expand its presence in emerging-market / Asia and Malaysia is one of the key
markets with strong growth in the insurance industry.
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Q: Will my contact person
change?
A:
You will continue to be served by your existing agent.
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Q: Who is Zurich?
A:
Zurich is one of the world's largest insurance groups, and one of the few to
operate on a truly global basis. Founded in 1872 and headquartered in Zurich,
Switzerland, our mission is to help our customers understand and protect
themselves from risk. With over 60,000 employees serving customers in more than
170 countries, we aspire to become the best global insurer as measured by our
customers, shareholders, distributors and employees. Zurich has a solid
financial position with strong credit rating granted by S&P's (AA-). We
provide life and general insurance solutions for personal and corporate
customers in North America, Europe, Asia-Pacific, the Middle East and Latin
America.
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Q: Who will deal with my
claims? Will there be any change in the claim procedures?
A:
Your claims will be handled by your existing agent and the same team with no
change in claim procedures.
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Q: Why is Zurich acquiring MAA
(and the four affiliated companies)?
A:
Zurich is keen to expand our presence in Malaysia since Malaysia is one of the
key Asian markets with significant growth prospects. The acquisition of MAA is
another milestone in our emerging-market strategy. It expands our presence in
the Asia-Pacific region and positions us for further profitable growth. Zurich
recognises the strengths of MAA in its 40 years of insurance expertise; a strong
management and loyal employee base; an extensive tied-agency in Life Insurance;
a quality team to support General Insurance; and over 2.8 million policyholders
in Malaysia. This transaction allows both companies to combine their strengths
to become the best insurance company in Malaysia.
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Q: Will the service
standards be changed from what I am used to receiving from MAA (and my agent)?
A:
At Zurich, customers are always at the centre of everything we do. With
effective procedures and measuring mechanisms in place, we assure you that
service quality will be maintained and enhanced continuosly.
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Q: Will the company name and
brand be changed?
A:
MAA is a well respected company in Malaysia. We will look to combine MAA's
strong reputation and local market knowledge with Zurich's International brand.
We will implement a gradual transition to the Zurich brand in 2012.
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Q: Will the CS centre I
used to visit for services remain?
A:
The company will operate under the current model with the existing branch /
office network. We will continue to review the needs of our customers with
appropriate arrangements which can cater for their changing needs.
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Q: Is there any relationship
between this company and MCIS Zurich?
A:
Zurich currently owns a 40% stake in MCIS Zurich Insurance Berhad. However, MCIS
Zurich and MAA are two separate companies.
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Policy Terms & Benefits
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Others
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Q: How will this transaction
affect me? What are the benefits to me as a MAA customer?
A:
There will be no impact on the benefits (terms & conditions) and protection
offered from your existing policy. You will continue to enjoy the high quality
of services provided by your agent / distributor and the company. Our vision is
to become the best insurance company in Malaysia as measured by our customers,
distributors and employees. As a result, you can expect a continuos enhancement
of your experience in dealing with the company.
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Q: When can I expect new
products from the company?
A:
The company currently provides a broad range of products for covering our
customers' financial protection and wealth management needs. However, the
company will continue to review and leverage Zurich's global expertise to
broaden and develop more innovative products to meet the ever changing needs of
the Malaysian insurance market.
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Q: Do I need to do anything with
my existing policies?
A:
You do not need to do anything but continue to enjoy the benefits of your
existing policies as well as the quality services provided by your agent and the
company.
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Q: What should I do if I
am approached by a MCIS Zurich agent?
A:
MCIS Zurich and MAA are two separate companies. If you have any query regarding
your existing policy, please contact your MAA agent or MAA Customer Service
hotline for assistance.
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Q: Will there be any change in
the policy premium (due to this transaction)?
A:
The policy premium will not change as a result of this transaction.
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Q: Will my existing
policies be replaced by other new products that I need to pay more for?
A:
You can continue to enjoy the protection and savings benefits from your existing
policy which will not be replaced. However, the company will continue to review
and leverage on Zurich's global expertise to broaden its existing range by
developing more innovative products to meet the ever changing needs of Malaysian
customers.
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