1. Corporate Broker Advisory Council Meeting Webinar May 17, 2012 11 a.m. – 12:30 p.m. EST

2. © Zurich Insurance Company Meeting Agenda Welcome Mike Golden Zurich Update Mike Kerner Which way is the wind blowing? Zurich Broker Council Members Focusing on the customer Ron Davis Open discussion / Q&A Mike Golden Next meeting, closing remarks Mike Golden 2

3. © Zurich Insurance Company 3 Anti-Trust Rules of Engagement Broker Advisory Council Meetings Statement of Policy "It is the policy of Zurich in North America (Zurich) and the members of its Corporate Advisory Council to comply strictly with all laws applicable to Zurich's activities. The Council emphasizes the ongoing commitment of Zurich of full compliance with Federal and state antitrust laws. Therefore, discussion of any matters relating to competition among our participants or relating to practices that may restrain trade with third parties is not permitted. This includes prohibited subjects such as prices, discounts, allocating territories or customers, boycotts or any other statements that could be construed as being anti- competitive. These guidelines will help us all to limit our antitrust risk." [1] [1] Antitrust laws are complex and far-reaching, and this statement is not a complete summary of all applicable laws. More detailed information is available upon request.

4. Zurich Update Mike Kerner CEO Zurich Global Corporate in North America

5. © Zurich Insurance Company (1) Throughout this document, certain comparatives have been restated as set out in note 1 of the unaudited consolidated financial statements (2) After tax; A refinement in methodology for calculating new business value for corporate protection business was introduced at the beginning of 2011. This has a transitional impact over two years from the implementation date relating to renewals of business in force at the date of the change. The renewed business contributed USD 18 million of new business value in the first three months of 2012, compared with USD 42 million in the corresponding period of 2011 (3) Margin on gross earned premiums of the Farmers Exchanges. Zurich Insurance Group has no ownership interest in the Farmers Exchanges. Farmers Group, Inc., a wholly owned subsidiary of the Group, provides non-claims management services to the Farmers Exchanges and receives fees for its services. Financial highlights in USD millions for the three months to March 31 2012 2011 (1) Change _________________________________________________________________________ ________ Business operating profit (BOP) 1,375 854 61% Net income attributable to shareholders 1,143 640 78% General Insurance combined ratio 94.6% 103.6% 8.9pts Global Life new business value (2) 196 230 - 15% Farmers Mgmt Services managed GEP margin (3) 7.4% 7.1% 0.3pts Shareholders equity 31,815 31,636 1% Return on common shareholders’ equity (ROE) 14.4% 8.3% 6.1pts Business operating profit (after tax) ROE 13.4% 8.5% 4.9pts

6. © Zurich Insurance Company Business operating profit by segment in USD millions for the three months to March 31 2012 2011 Change ____________________________________________________________________________________ _ General Insurance 856 280 206% Global Life 293 362 - 19% Farmers (including Farmers Re) 372 380 - 2% Other Operating Businesses - 227 - 174 - 30% _________________________________________________________________________ __ Total BOP Operating business segments 1,294 848 53% Non-Core Businesses 81 6 nm _________________________________________________________________________ __ Total BOP 1,375 854 61% 6

7. © Zurich Insurance Company Top line development by segment in USD millions for the three months to March 31 2012 2011 Change Change in LC (1) _________________________________________________________________________________ _______ General Insurance GWP and policy fees 10,470 10,101 4 % 5% _______________________________________________________________________ __ Global Life GWP, policy fees and insurance 7,396 6,379 16% 19% deposits Annual Premium Equivalent (APE) (2) 919 849 8% 11% _______________________________________________________________________ __ Farmers Farmers management fees 710 682 4% Farmers Re GWP 1,053 707 49% (1) Local Currency (2) Gross new business Annual Premium Equivalent (APE) 7

8. © Zurich Insurance Company General Insurance – key performance indicators in USD millions for the three months to March 31 2012 2011 Change Change in LC (1) _____________________________________________________________________________________ ______ GWP and policy fees 10,470 10,101 4% 5% Rate change (2) 3.1% 2.6% 0.5pts __________________________________________________________________________ ______ Loss ratio 67.5% 76.9% 9.5pts Expense ratio 27.1% 26.6% - 0.5pts Combined ratio 94.6% 103.6% 8.9pts __________________________________________________________________________ ______ Business operating profit 856 280 206% 207% (1) Local Currency (2) For details, please refer to specific notes on the following slide “Rate Change Monitor” 8

9. © Zurich Insurance Company Solvency calculations 9

10. © Zurich Insurance Company GI Blueprint in North America guiding principles for market-facing units Deep insight and expertise into providing leading risk management solutions through customer industry groups NA Blueprint principles

11. © Zurich Insurance Company GI Blueprint in North America guiding principles for market-facing units Deep insight and expertise into providing leading risk management solutions through customer industry groups Industry-focused verticals for standard lines for all existing business and new business 1 Construction – Commercial Markets Healthcare (hospitals/IDS) – Commercial Markets Global Energy – Global Corporate Transportation (long-haul trucking) – Global Corporate 2 NA Blueprint principles

12. © Zurich Insurance Company GI Blueprint in North America guiding principles for market-facing units Deep insight and expertise into providing leading risk management solutions through customer industry groups Industry-focused verticals for standard lines for all existing business and new business 1 Construction – Commercial Markets Healthcare (hospitals/IDS) – Commercial Markets Global Energy – Global Corporate Transportation (long-haul trucking) – Global Corporate 2 NA Blueprint principles 1 For this purpose, standard lines include property, primary & excess casualty; NA Blueprint does not apply to: Canada business or Single parent Captive business 2 Excludes Transportation business written via Program Administrators

13. © Zurich Insurance Company GI Blueprint in North America guiding principles for market-facing units Differentiated resources to serve large corporate customers beyond our customer industry groups Deep insight and expertise into providing leading risk management solutions through customer industry groups Industry-focused verticals for standard lines for all existing business and new business 1 Construction – Commercial Markets Healthcare (hospitals/IDS) – Commercial Markets Global Energy – Global Corporate Transportation (long-haul trucking) – Global Corporate 2 Customer revenue will be the primary driver to determine whether business best fits in GCiNA or NAC, for NEW business effective 4/1/2012 or later 1,3 : If customer revenue > $750M OR TIV per location (for Property 4 ) > $300M OR loss pick > $3M (for Casualty), all standard lines new business goes to GCiNA. All other standard lines new business goes to NAC. NA Blueprint principles 1 For this purpose, standard lines include property, primary & excess casualty; NA Blueprint does not apply to: Canada business or Single parent Captive business 2 Excludes Transportation business written via Program Administrators 3 Excess Casualty renewal business (that meets the criteria) will transfer from NAC to GCiNA effective 4/1/12 and later

14. © Zurich Insurance Company GI Blueprint in North America guiding principles for market-facing units Differentiated resources to serve large corporate customers beyond our customer industry groups Deep insight and expertise into providing leading risk management solutions through customer industry groups Industry-focused verticals for standard lines for all existing business and new business 1 Construction – Commercial Markets Healthcare (hospitals/IDS) – Commercial Markets Global Energy – Global Corporate Transportation (long-haul trucking) – Global Corporate 2 Customer revenue will be the primary driver to determine whether business best fits in GCiNA or NAC, for NEW business effective 4/1/2012 or later 1,3 : If customer revenue > $750M OR TIV per location (for Property 4 ) > $300M OR loss pick > $3M (for Casualty), all standard lines new business goes to GCiNA. All other standard lines new business goes to NAC. NA Blueprint principles 1 For this purpose, standard lines include property, primary & excess casualty; NA Blueprint does not apply to: Canada business or Single parent Captive business 2 Excludes Transportation business written via Program Administrators 3 Excess Casualty renewal business (that meets the criteria) will transfer from NAC to GCiNA effective 4/1/12 and later Please note that we have “grandfathered” primary policies within GCiNA and NAC to minimize disruption among existing underwriter- customer relationships. All new business follows the above stated guidelines.

15. © Zurich Insurance Company GI Blueprint in North America guiding principles for market-facing units Differentiated resources to serve large corporate customers beyond our customer industry groups Deep insight and expertise into providing leading risk management solutions through customer industry groups Industry-focused verticals for standard lines for all existing business and new business 1 Construction – Commercial Markets Healthcare (hospitals/IDS) – Commercial Markets Global Energy – Global Corporate Transportation (long-haul trucking) – Global Corporate 2 Customer revenue will be the primary driver to determine whether business best fits in GCiNA or NAC, for NEW business effective 4/1/2012 or later 1,3 : If customer revenue > $750M OR TIV per location (for Property 4 ) > $300M OR loss pick > $3M (for Casualty), all standard lines new business goes to GCiNA. All other standard lines new business goes to NAC. NA Blueprint principles 1 For this purpose, standard lines include property, primary & excess casualty; NA Blueprint does not apply to: Canada business or Single parent Captive business 2 Excludes Transportation business written via Program Administrators 3 Excess Casualty renewal business (that meets the criteria) will transfer from NAC to GCiNA effective 4/1/12 and later 4 TIV per location threshold for Property does not apply to Real Estate or Technology SIC codes Please note that we have “grandfathered” primary policies within GCiNA and NAC to minimize disruption among existing underwriter- customer relationships. All new business follows the above stated guidelines.

16. © Zurich Insurance Company o International Programs from Zurich (IPZ) o Property o Energy o Surety o Accident & Health o Marine o Canada 16 Growth areas across ZNA

17. © Zurich Insurance Company Questions?

18. Which way is the wind blowing? Zurich’s viewpoint Broker Council Members’ viewpoint

19. © Zurich Insurance Company Which way is the wind blowing? Zurich’s view of market conditions for second half of year - Sabrina Hart, Chief Underwriting Officer, Zurich GCiNA - Brandon Fick, SVP, Large Corporate Casualty Segment Leader, Zurich GCiNA - Joe Tinetti, Head of Property, Zurich GCiNA - Todd Cunningham, Head of Strategic Risk Solutions, Zurich GCiNA Brokers’ view of market conditions for second half of year 19

20. Focusing on the customer Ron Davis Head of Market Customers Zurich Global Corporate in North America

21. Open discussion Q&A Mike Golden Head of Global Broker Relationship Management Zurich North America

22. © Zurich Insurance Company 22 Mark your calendar! Next Corporate Broker Advisory Council meeting – DATE: November 14-16, 2012 Arrivals: November 14, 2 p.m. meeting start LOCATION: Los Angeles, CA Special 100 year celebration event Additional details to follow

23. Closing remarks Mike Golden Head of Global Broker Relationship Management Zurich North America

24. Thank you