Agreement offers Professional Indemnity cover to association's 2000 members

Kuwait City, 25 September 2011 - Lebanese Insurance Company Ltd  ('LIC'), a member of the Zurich Financial Services Group ('Zurich'), has today signed an exclusive agreement with the Kuwait Lawyers Association ('KLA') to offer its 2000 members the opportunity to purchase its Professional Indemnity cover. Under the new agreement, LIC will be the only insurer endorsed by the association to provide this product to its members.

The announcement comes as Zurich awaits approval from the Ministry of Commerce and Industry in Kuwait to change LIC's name to Zurich Insurance Middle East S.A.L; the name under which its branches in Lebanon, Oman and the United Arab Emirates are currently operating.

Commenting on the announcement, Maroun Mourad, CEO of Zurich's General Insurance business in the Middle East said: "Strategic partnerships are a key opportunity for us as we continue to grow our business in Kuwait. I am delighted that we have entered this strategic partnership with the KLA and as a result, have been able to offer their members a superior product at a preferential rate. "

He added: "By leveraging Zurich's global capabilities and regional expertise, I am confident that we are well positioned to exceed the expectations of our customers in Kuwait."

Zurich's Professional Indemnity product has been carefully designed to meet the requirements of legal and other professionals working in the region, allowing them to focus on their daily responsibilities, reassured that they have sufficient cover in place to protect their assets and those of their employer should they ever face litigation from a third party.

Mr Khaled Al Kandary, Chairman of the KLA said: "Professional Indemnity cover is essential for those working in the legal profession and also provides additional assurance to the clients that they represent. In fact, many clients seeking legal services require the lawyers representing them to have sufficient professional indemnity cover in place before appointing them.  We are pleased to be able to offer our members one of the most comprehensive and competitive products in the market, backed by Zurich's reputation for delivering quality products underpinned by excellent customer service."

-Ends- 

Zurich Financial Services Group (Zurich) is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. It offers a wide range of general insurance and life insurance products and services for individuals, small businesses, mid-sized and large companies as well as multinational corporations. Zurich employs about 60,000 people serving customers in more than 170 countries. Founded in 1872, the Group is headquartered in Zurich, Switzerland. Zurich Financial Services Ltd (ZURN) is listed on the SIX Swiss Exchange. Further information about Zurich is available at www.zurich.com.

Zurich Insurance Company Ltd ("ZIC") is a member of the Zurich Financial Services Group. In December 2010, ZIC acquired 99.99% of Compagnie Libanaise d'Assurances S.A.L (also known as Lebanese Insurance Company S.A.L), a privately owned Lebanese insurer, headquartered in Beirut, with branch operations in the United Arab Emirates, Kuwait and Oman. The transaction gives ZIC access to Personal and Commercial customer segments in four important markets, and complements its existing General Insurance presence in Bahrain and the Dubai International Financial Centre ("DIFC"); through which tailor made insurance solutions are being delivered to large corporate customers. In April 2011, the Insurance Control Commission in Lebanon approved Zurich's application to change the name of Compagnie Libanaise d'Assurances S.A.L to Zurich Insurance Middle East S.A.L and the branches in Lebanon, Oman and the United Arab Emirates now operates under that name.  Zurich is currently seeking approval from the local regulator in Kuwait to allow its branch there to operate under the same name. 

For further information, please contact:
FD Gulf - for Zurich in the Middle East
Marcus Pepperell/Maie Ahmed
+971 (0)4 332 8832

Zurich Media Relations in the Middle East
Zoë Gould (Head of Marketing & Communications, Middle East)
+971 4 364 7316

© Press Release 2011