Zurich announces the closing of the Kono Insurance Acquisition

"We are very pleased to have finalized this acquisition and to welcome Kono‘s team of professionals and talents,“ Eric Hui, Chief Executive Officer for Zurich's General Insurance business in Hong Kong, commented. “We are enthusiastic about this unification, which brings together the expertise in underwriting discipline, claim competences and a robust range of insurance propositions, all under one house. This acquisition will enhance Zurich’s existing employees’ compensation (EC) insurance offering, and it is our strategic intent to serve the construction industry with a wider range of insurance propositions including engineering, credit, professional indemnity, etc. We believe that this will create significant value for both Zurich and Kono Insurance, and most importantly to the broader construction community.“

Andrew Fung, Chief Executive of Kono Insurance, commented, “This new chapter in Kono is an exciting time for our team. Kono will benefit from Zurich’s global expertise and strong position in Hong Kong, thereby bringing better services to our customers.”

Following the closing of the transaction, Zurich looks forward to joining hands with Kono in driving its business forward.

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, 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.

Zurich’s presence in Hong Kong dates back to 1961. In Hong Kong, Zurich offers a full range of flexible general insurance and life insurance products and solutions for individuals, small businesses, and mid-sized companies, as well as large corporate customers, catering to their insurance, protection and investment needs. Zurich was also awarded the 10 Year Plus Caring Company Logo for 2014/2015 by the Hong Kong Council of Social to acknowledge its commitment in “Caring for our Community”, “Caring for our Employees” and “Caring for our Environment” over the past years.