A Swiss insurer is returning its brand name to the U.S. life insurance market .
Zurich Financial Services Group Ltd., Zurich, announced that it is expanding its Global Life business in the U.S. This will be the first since 2003 that life insurance products will be sold under the Zurich brand, the company said.
Zurich Global Life in North America initially will have two U.S. market offerings: corporate life and pensions (CLP) and affluent markets.
Zurich Financial says the CLP products and services, including disability insurance, will be distributed through employee benefits consultants and regional brokers.
Zurich’s affluent markets portfolio, to be offered through brokerage general agencies, includes specialized life insurance products to be used in customized wealth transfer and business insurance continuity plans. Among these are buy-sell agreements and key executive coverage for collateralized business loans.
The company says that Zurich Global Life in North America will operate under three life insurance companies: Zurich American Life Insurance Co., Universal Underwriters Life Insurance Co.; and Farmers New World Life.