9 June 2004
Zurich International Solutions (ZIS), which provides insurance-based solutions for expatriates and international investors, has won significant new business from InterContinental Hotels Group (IHG).
The IHG scheme has existing assets exceeding US$28m, which will be transferred to the new Zurich International Life Magnus scheme, together with all future regular and one off contributions. Chesterman Consultants (Hong Kong) was the introducing broker for the scheme which was previously managed by Fidelity.
Zurich's Magnus scheme offers an effective, versatile and portable retirement scheme for internationally mobile personnel. Typical scheme features include Trustee services, a wide range of investment funds, a choice of currencies and simple, secure, web based on line administration.
Mark Goodman, Distribution Director at Zurich International Life comments:
"We were delighted to be chosen by IHG and their advisers for this scheme in the face of stiff competition. This news supports our belief that Zurich International Solutions' approach of offering corporate retirement savings, risk and trust services with online administration as an integrated package is market leading.
"Sales of such schemes to Corporate customers is the fastest growing part of ZIS business, and we believe that in future more and more multinationals will adopt worldwide policies for recruiting and retaining key mobile personnel."
-Ends-
For further press information please contact:
Debi Isaac, Zurich Financial Services Press Office
tel: 01793 5053810
mob tel: 07785 306092
Notes to Editors:
- Zurich International Solutions is part of Zurich Financial Services and has office locations in the Isle of Man, Channel Islands, Hong Kong, London, Luxembourg, the Middle East and Zurich. Its primary business is the provision of insurance-based solutions for expatriates and international investors, as well as employers and organisations seeking international employee group benefits schemes.
Zurich International Solutions has earned a reputation for excellence in the expatriate and international investment market.
- Zurich Financial Services is an insurance-based financial services provider with an international network that focuses its activities on its key markets of North America, the United Kingdom and Continental Europe. Founded in 1872, Zurich is headquartered in Zurich, Switzerland. It has offices in approximately 60 countries and employs about 68,000 people.
Zurich Financial Services (UKISA) is part of the Zurich Financial Services Group and comprises the Group's operations in the UK, Ireland and International Businesses.
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