Zurich sets up in NZ

Swiss insurance giant Zurich has entered the New Zealand market, opening an office in Auckland.

Zurich New Zealand will offer "a broad spectrum of corporate and commercial insurance business", said Zurich Financial Services Australia chief executive David Smith.

Smith said the expansion was in line with Zurich's efforts to develop its customer, product and distribution base. "Zurich New Zealand's goal is to become a leader in chosen general insurance segments in the New Zealand market within five years."

At first the company would offer products in liability, property, financial lines, motor fleet and global insurance.