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Business Services Industry

Zurich North America Commercial Names Daniel Riordan President of Its Surety, Credit and Political Risk Group

Business Wire, May 6, 2008

SCHAUMBURG, Ill. -- Zurich North America Commercial today named Daniel W. Riordan president of its Surety, Credit and Political Risk group. This newly created group combines Zurich's Surety group, a leading provider of contract and commercial Surety products in North America, and its Emerging Markets operation, which is the leading provider of Political Risk and medium-term Trade Credit insurance in the global marketplace. In this role, Riordan will lead an international team that develops and markets Zurich's portfolio of surety, credit insurance and political risk insurance products to contractors, investors, international banks, multinational companies and infrastructure developers across North America and in emerging markets globally.

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Zurich today also announced the upcoming retirement of William E. Cheatham, president of Surety, effective September 30, 2008. Cheatham has been instrumental in leading Zurich's Surety group to achieve strong growth and profitability, so that today Zurich is one of the key players in this market.

"By integrating these lines into a single unit under Dan's leadership, we are offering our customers and distributors easier access to multiple, related lines of protection," said Seraina Maag, president of Zurich's Specialties business unit. "Dan has led the development of our political risk and credit lines that his team has built into a world-class business. We are confident he will bring the same vision and customer orientation to the newly aligned Surety, Credit and Political Risk group."

"By bringing together our surety, credit and political risk expertise, Zurich will provide customers with a more powerful service offering," Riordan said. "We have established strong distribution networks in the U.S. and emerging markets for these products. By leveraging our knowledge and our networks, we can bring our customers more immediate access to the broader array of complementary products they need."

Riordan joined Zurich in 1997 to establish and manage its political risk and trade credit business, which is based in Washington, D.C. Prior to that, he was a senior executive and vice president for insurance with the Overseas Private Investment Corporation. Riordan currently serves as chairman of the Investment Insurance Committee and a member of the Management Committee of the Berne Union. He is also a member of the board of directors of the U.S.-Russia Business Council and a member of the Institute of International Finance and the Institute for International Economics.

Riordan is a graduate of the State University of New York at Oswego, and earned a masters' degree in international development from the School of International Service at American University, Washington, D.C.

About Zurich Financial Services

Zurich Financial Services Group (Zurich) is an insurance-based financial services provider with a global network of subsidiaries and offices in North America and Europe as well as in Asia Pacific, Latin America and other markets. Founded in 1872, the Group is headquartered in Zurich, Switzerland. It employs approximately 60,000 people serving customers in more than 170 countries. In North America, Zurich (www.zurichna.com) is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, small business, specialties and programs sectors.

Business Services Industry

Zurich North America Commercial Names Daniel Riordan President of Its Surety, Credit and Political Risk Group

Business Wire, May 6, 2008

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