ZURICH ANNOUNCES SWISS AGENCY ALLIANCE OVER MICROINSURANCE

Switzerland-based Zurich Financial Services has entered into a partnership with the Swiss Agency For Development & Co-operation (SDC) to implement jointly Zurich’s new cross-regional micro-insurance plans. Zurich said that there was a “significant unmet need for insurance among disadvantaged populations in emerging markets”. It said that its new initiative represented “the first concerted effort across different regions within the group” that focused on the underprivileged. The SDC will provide Zurich with technical expertise. Zurich group finance director Patrick O’Sullivan said that the move would enable Zurich to explore new business models through a series of projects in up to four countries over the first three years. The pilot project will be in South Africa this year, with additional projects being considered in Asia and in Latin America.