Summit Moves Forward with Zurich Strategic Alliance

This special edition of Summit Perspectives provides an in-depth explanation of the new Summit Re partnership with Zurich American Insurance Company for catastrophic medical excess of loss business across all product lines.

Summit Re is pleased to announce that we have been appointed as a reinsurance intermediary manager (RIM) for Zurich American Insurance Company, effective July 1, 2015. With more than 100 years of experience in the US and strong industry ratings, the financial strength and stability Zurich brings to the table ranks the company among the industry’s leaders. In addition, Zurich management holds extensive expertise working with carriers and managing general underwriters and their strong relationships and service capabilities strategically complement our own. With Zurich, we’ve got more horsepower to get things done for our clients.

With a large “strike zone” in terms of openness to new ideas and concepts in the dramatically changing healthcare market, the Zurich underwriting model gives us expanded authority and then lets us do what we do best. The company also has a large team in strong support of deals utilizing front carriers and captive arrangements with reinsurance administration. This includes traditional reinsurance structures as well as alternative deal structures for those entities desiring to take significant risk themselves.

Another strong point of interest for Summit Re is that Zurich has many in-force clients in the healthcare space purchasing a variety of property and casualty coverages. These include medical malpractice, general and commercial liability, and directors and officers errors and omissions covers. Healthcare reform is fueling their growth, in many cases, and Zurich wanted to make sure they had an integrated product and service strategy for their client base. Zurich acknowledges our expertise, relationships and strong service capabilities and has appointed Summit Re as the exclusive MGU for their managed care excess product portfolio, while we correspondingly acknowledge their strong, complementary franchise.

Mark Troutman, President of Summit Re states, “We also were pleased by the strong rating and capital position of the Zurich franchise which is already a market leader.” Brian Fehlhaber, Vice President – Sales and Marketing, speaks to the impact on our clients, “It is our intent to work together with the client and Zurich to make the transition seamless and allow them to continue with the coverage and service that have worked so well for them historically.”

Julie Bobak, Senior Vice President – Zurich American, summed it up as follows, “Our relationship with Summit Re will allow us to provide healthcare customers with solutions geared to their needs.”

Ed Tyburski , Senior Vice President – Zurich American, added, “We are very enthusiastic about the opportunity to work with one of the premier companies in the catastrophic medical excess market, one which has a demonstrated track record of profitable growth over its fifteen-year history.”

The Summit Re reputation of putting together dynamic solutions that accomplish each client’s specific goals for management healthcare risk will become even stronger. With Zurich on our team, we have more resources to embrace innovative deal structures that will move our clients forward. From full reinsurance to fronting and captive arrangements that allow clients to retain varying amounts of risk, the Summit Re – Zurich team offers a complete spectrum of product and service capabilities.

About Zurich

Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With more than 55,000 employees, it provides a wide range of general insurance and life insurance products and services. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, including multinational corporations, in more than 170 countries. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com. In North America, Zurich is a leading commercial property-casualty insurance provider serving the global corporate, large corporate, middle market, specialties and programs sectors through the individual member companies of Zurich in North America, including Zurich American Insurance Company. Life insurance and disability coverage issued in the United States in all states except New York is issued by Zurich American Life Insurance Company, an Illinois domestic life insurance company. In New York, life insurance and disability coverage is issued by Zurich American Life Insurance Company of New York, a New York domestic life insurance company. For more information about the products and services it offers and people Zurich employs around the world go to www.zurichna.com. 2012 marked Zurich's 100 year anniversary of insuring America and the success of its customers, shareholders and employees.

Zurich Financial Strength

Financial strength ratings (as of September 30, 2014): A.M. Best > A+/Stable

Standard & Poor's > AA-/Stable

Recognition and awards:

Zurich named “Best Insurance Company” (Captive LIVE USA Conference, October 2014)

2014 Innovation Award: “What if?” Zurich Risk Grading™ Application (Business Insurance, March 2014)

Zurich winner of the AGC Community Award (Associated General Contractors of America, Annual Conference, March 2014)

2014 Innovation Showcase: “Zurich Risk Room” and “My Zurich Portal” (Best’s Review magazine, January 2014)

Zurich “Best Political Risk Insurer,” “Best Global Supply Chain/Trade Disruption Insurer,” “Best Property Insurer,” “Best D&O Insurer,” “Best Employment Practices Liability Insurer,” “Best Crime/Fidelity Insurer” and “Best General Liability Insurer” (Global Finance Magazine, October 2013)

Zurich’s Trade Credit and Political Risk group named “Best Private Insurer in Trade,” “Best Trade Insurer in North America,” “Best Trade Insurer in Asia Pacific” and “Best Trade Insurer in Latin America” (Trade Finance, June 2013)

2013 Innovation Award: Zurich Risk Room Mobile Application (Business Insurance, March 2013)

2013 “Innovation in Fronting” Award: UK Captive Services Awards (Captive Review, February 2013)

Zurich named “Best Fronter of the Year” (Captive LIVE USA Conference, September 2012)

Zurich’s Trade Credit and Political Risk group named “Best Private Insurer,” “Best Trade Insurer in Asia Pacific” and “Best Trade Insurer in North America” (Trade Finance, August 2012)

Zurich named “2011 Insurer of the Year” (Daimler Financial Services AG, August 2012)

Innovation Award for Zurich Multinational Insurance Application (Zurich MIA) (Business Insurance, March 2012)