The headline highlighting the Zurich results, Zurich shifts to general insurance (Money Marketing, September 12) is incorrect.
Instead, as the article went on to state, Zurich Financial Services has taken steps to refocus its efforts on core business activities – life and general insurance.
Our commitment to the life market remains stronger than ever and 2003 holds great promise for us. There are winners and losers in the financial services market but overall Zurich's life business is well positioned to capitalise on the tremendous opportunities for profitable growth presented by depolarisation and gap filling.
Initiatives are under way to cut costs and improve productivity, margins and service. By focusing on profitable business, enhancing client relationships and developing innovative financial solutions backed by market-leading levels of service, we believe we are better placed to build an unassailable customer-focused business.
Building on key strengths in distribution and relationship management, our life business will continue to focus on advice-based distribution in ZAN, Zifa and our strategic partners, such as Bristol & West and Newcastle Building Society. And our ongoing commitment to product innovation and service support for IFAs will continue to see profitability in this area of the business grow.
To summarise, life business is key to Zurich's success and in the UK, we will play a crucial part in driving Zurich's global life business forward.
CEO, UK, Ireland and international life
Zurich Financial Services