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About Zurich Insurance Group

With about 60,000 employees worldwide, the Zurich Insurance Group delivers insurance products and services through its three core business segments: General Insurance, Global Life Segments and Farmers.

They are one of the world’s largest insurer based financial services group, operating in North America, Europe, the Middle East, Africa, Latin America and Asia-pacific.

Zurich Insurance group is based in Zurich Switzerland and was founded as a Marine Insurer in 1872. They were known as Versicherunchs-Verein, which means Insurance Association. In 1880 Zurich quit the marine business, shifting their focus to casualty insurance.

In 1887 Zurich provided accident insurance to soldiers of the Swiss military, during their three-week annual training exercises. In 1894 Zurich changed its name to Zurich General Accident & Liability Insurance Limited and again in 1955 to Zurich Insurance Company when it established itself as a one-stop wholesale insurer.

With the acquisition of the Commonwealth General Assurance Corporation, Zurich entered Australia in 1961. They went on to acquire many more companies, combining them all together to form Zurich Financial Services in the year 2000.

In 2006 the group achieved a record year for profits, recording a net income of $5.9 Billion. Despite the 2009 global economic uncertainty, Zurich closes the year with its 28th consecutive quarter of profitability.

In 2012 the company renamed itself as Zurich Insurance Group Ltd, since they dealt largely in insurance and less so with financial services.

Zurich Australia expanded their product range and service offering even further by acquiring Macquarie Life on the 1st of October 2016. The acquisition meant that Zurich received Macquarie's complete Life Insurance portfolio, including FutureWise, Active, and Sumo Policies.


About Zurich Financial Services

Zurich Financial Services Australia (Zurich Australia) is a leading multi-line insurer and is one of the longest standing independent players in the Australian life market. Starting operations in 1961, Zurich Australia credits their success to their diverse and talented workforce and creating sustainable value for customers.

Through their brand promise of intelligent protection, Zurich Insurance helps customers, individuals and large companies, understand and guard themselves against risk.

Zurich Australia is part of the Swiss-based worldwide Zurich Financial Services Group, which operates under the global Zurich brand.

Key Statistics

The Zurich group is one of only a few insurers to operate on a truly global basis. They have been serving customers for over 135 years.

With over 1100 employees, as of July 2016, Zurich Australia remains committed to offering customer’s award-winning business and personal life risk solutions.

Protecting customers and businesses in over 170 countries, Zurich is able to draw on its global strength to provide exceptional value, innovative products and customer-friendly service.

Zurich Australia currently has a treaty reinsurance agreement with SCOR, contributing to their financial strength and ability to pay claims. In 2015 Zurich Australia paid out a total of $165.9 million in death, TPD, trauma and income replacement claims.

zurich insurance


Zurich Reinsurer is established in Zurich, Germany as a reinsurer for Schwiez Marine Insurance Company.


Zurich dissolves it's Marine reisurance operations.
Zurich Insurance


Zurich Insures Swiss Army.
Zurich Australia


Zurich begins operations in it's 5th continent by
begining operations in Australia.


Zurich has a record year for profits - recording a $5.9 Billion net income for the year.


Despite the GFC, Zuirich records 28th consecutive
profitable quarter.


On October 1, 2016, Zurich acquires Macquarie Life.

Zurich FAQ

Zurich is a multinational insurance company based in Zurich, Switzerland. They offer general and life insurance solutions to individual customers and small, medium-sized and large businesses.
Zurich’s global head office is based in Zurich, Switzerland. However, the Australian division’s head office is located in North Sydney.

All Macquarie products have been transferred, as is, to Zurich. Your product features, benefits, costs and the way you’ve been paying for cover will remain the same, it is simply rebranded under the Zurich name.

Zurich now resumes administrative responsibilities for all Macquarie Life risk insurance policies, including managing all new and existing claims.

Yes. For you to feel confident and comfortable in the acquisition, the staff at Macquarie has been transferred over to Zurich as a part of the acquisition. So, not only can you expect the same level of service, or better, you’ll even have access to the Macquarie consultants and liaisons you trust.

Zurich’s Accidental Injury Benefit is built into the death cover of the Zurich Wealth Protection product. The benefit includes an advance payment of part or all of your Death benefit if you should suffer a specific accidental injury:

Zurich will pay the lesser of 25% of the Death cover or $500,000 if you were to lose the user of your hand, foot or sight in one eye.

However should you lose the use of both your hands or both feet or the sight in both eyes or a combination of any two of the following, losing the use of one hand or one foot or the sight in one eye. Zurich will pay the lesser of 100% of the Death cover or $2,000,000.

Take note that when you have insurance inside your superannuation, your Accidental Injury Benefit will only be payable to you if you meet a condition of release under superannuation law (SIS).

Due to our 10+ year relationship with Zurich we’re able to have new applications, with medical loadings of up to 75% on lump sum cover with a single impairment, reviewed, this enables us to provide our customers with potential premium reductions regarding situations where they might have received an increased premium due to a single medical condition.
Recently Zurich moved to a new reinsurer, SCORE, which changed its guidelines on certain pre-existing medical conditions, diabetes being one of them. They now have a much more favourable view towards people with diabetes, this is great news for people with either type 1 or type 2 diabetes looking for life insurance, as some other life insurers have a far more conservative view on offering cover to people with this particular condition.

If you’re in need of expert insurance advice, feel free to contact one of our experienced consultants, alternatively, if you’d like to consider your options and compare life insurance products then take a look at our online comparison tool where you can compare quotes from up to 12 insurance companies online.

Customer reviews are in no way affected by any commercial relationships Life Insurance Direct has with providers on the list. Reviewers may enter a competition with a chance to win a prize from Life Insurance Direct in exchange for their reviews. All reviewers who meet our review guidelines have equal chances of winning a prize regardless of whether they submitted positive or negative reviews.

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Ask an Expert?


  • darren sands |

    I am 49 and have recently undertaken a blood test which showed my psa level was lower than normal. I am about to have an mri scan to check my prostate.
    As I have had no formal diagnosis of an illness am I able to take out life insurance or income protection.

    Thank you.

      Russell |

      Interesting question Darren & one that we get fairly frequently. As I don’t know your entire situation I can only provide you with general information that generally applies to the policies that we have available to us from the 10+ insurers we currently use.

      Generally speaking the view from the life insurers for any pending investigations is that they would not consider any cover (terms) until you (the client) have been fully investigated for the relevant condition (in your case your prostate and / or PSA levels) and a formal diagnosis (or clear bill of health whichever the case may be) has been made or a cause has been identified and the results have been made available (to the client at their own expense).

      As you can imagine until the investigations have concluded the insurer is not aware of the risks that are involved in accepting you application or not while the investigations are pending, this would apply for all benefits including Life, TPD, Trauma & Income Protection cover.

      When the investigations have finalised you may want to send us the results and we can complete a pre-assessment for you to see what cover options are available and which insurer will be able to offer cover and if so who would offer the best terms suitable to your requirements.

      I hope this is of assistance to you, if you would like to discuss further please contact our office.

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