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WINTERTHUR, Switzerland, Nov. 27, 2002 (PRIMEZONE) — Winterthur, a accessory of Credit Suisse Accumulation (NYSE:CSR), today appear that it is affairs its allowance accessory in Portugal, Companhia Europeia de Seguros, S.A., as able-bodied as its Portuguese alimony subsidiary, Winterthur Pensoes, S.A., to Liberty International, a accessory of the Liberty Mutual Group.

Zurich Seguros en contacto con sus clientes | Analitica
Zurich Seguros en contacto con sus clientes | Analitica | seguros zurich logo
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Zurich Insurance Group – YouTube – seguros zurich logo | seguros zurich logo

Winterthur Allowance and Winterthur Activity & Pensions are refocusing their attendance on markets in which they already accept or can rapidly authorize acceptable bazaar positions. Manfred Broska, CEO of Winterthur Insurance, stated: “Following the divestitures of Winterthur International, Winterthur Austria and the nonlife and activity branches of Winterthur in France in 2001, this auction is a added key footfall in the accomplishing of Winterthur’s action to focus on its amount markets.” Winterthur Insurance’s arch bazaar units are in Europe, with a accurate focus on Switzerland (where it is bazaar leader), Germany, Spain, the U.K., Italy and Belgium.

For Liberty International, the accretion of Winterthur’s Portuguese business units marks the admission into the Portuguese allowance market, area Liberty Mutual intends to acquaint its name alongside that of Europeia.

Tom Ramey, President of Liberty International, commented: “Liberty All-embracing has a able absorption in the European market. We are agog about our admission into the Portuguese allowance bazaar and about added accumulation our attendance in southern Europe, afterward the accretion of the Spanish subsidiaries of Hartford and Royal Sun Alliance in 2001.”

In 2001, Europeia recorded EUR 127 actor (CHF 186 million) in gross nonlife premiums and EUR 45 actor (CHF 66 million) in gross activity premiums, and Winterthur Pensoes managed EUR 13 actor (CHF 19 million) in funds. With a bazaar allotment of 3.6%, Europeia is Portugal’s ninth better nonlife insurer and, with a bazaar allotment of 1.0%, its fourteenth better activity insurer, abstinent in agreement of gross premiums accounting in 2001.

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The capacity of the transaction will not be disclosed. Subject to approval by the authorities, the transaction is accepted to be completed in the aboriginal analysis 2003.

Credit Suisse Accumulation

Credit Suisse Accumulation is a arch all-around cyberbanking casework aggregation headquartered in Zurich. The business unit, Credit Suisse Cyberbanking Services, provides clandestine audience and baby and medium-sized companies with clandestine cyberbanking and cyberbanking advising services, cyberbanking products, and alimony and allowance solutions from Winterthur. The business assemblage Credit Suisse Aboriginal Boston, an advance bank, serves all-around institutional, corporate, government and alone audience in its role as a cyberbanking intermediary. Credit Suisse Group’s registered shares (CSGN) are listed in Switzerland and Frankfurt, and in the anatomy of American Depositary Shares (CSR) in New York. The Accumulation employs about 80,000 agents worldwide. As of September 30, 2002, it appear assets beneath administration of CHF 1,221.8 billion.

Winterthur Allowance

Winterthur Insurance, a Credit Suisse Accumulation division, is one of the arch European allowance companies. It offers clandestine individuals and accumulated barter a ambit of non-life allowance solutions through acceptable and another administration channels. Winterthur Insurance’s arch bazaar units are in Europe, with a accurate focus on Switzerland (where it is the bazaar leader), Germany, the United Kingdom, Italy, Spain and Belgium. In North America, Winterthur Allowance operates through several accustomed bounded allowance companies. Winterthur Allowance has added than 24,000 agents members. As of September 30, 2002, the aggregation accomplished a exceptional aggregate of CHF 14.5 billion.

Winterthur Activity & Pensions

Winterthur Activity & Pensions (Winterthur Activity and subsidiaries), a Credit Suisse Accumulation division, is one of the arch European activity insurers. It offers alone and accumulated audience tailor-made, bounded and all-embracing activity allowance and alimony solutions. Winterthur Activity & Pensions accomplished a exceptional aggregate of CHF 14.8 billion as of September 30, 2002, and appear assets beneath administration of CHF 113.0 billion as of September 30, 2002. There are added than 7,000 bodies alive for Winterthur Activity & Pensions all over the apple (around 15,000 including sales agents).

Liberty Mutual

Boston-based Liberty Mutual Accumulation is a adapted all-embracing accumulation of allowance companies and one of the better multi-line insurers in the North American acreage a nd blow industry. The accumulation has added than USD50 billion in circumscribed assets, added than USD13 billion in circumscribed acquirement and ranks 142nd on the Fortune 500 account of better corporations in the United States. The A.M. Best Aggregation has rated Liberty Mutual “A” (Superior). Along with actuality the arch provider of workers’ advantage insurance, programs and casework in the United States for 65 years, Liberty Mutual provides a advanced ambit of articles and services, including accepted liability, bartering auto and business property, accumulation activity and disability, clandestine commuter auto and homeowners’ insurance, and alone activity and annuities. The company, which is adulatory its 90th ceremony in 2002, employs 35,000 bodies in added than 800 offices throughout the world. Liberty Mutual’s website abode is www.libertymutual.com.

Cautionary Statement Regarding Forward-Looking Information

This columnist absolution contains statements that aggregate advanced statements. In addition, in the approaching we, and others on our behalf, may accomplish statements that aggregate advanced statements.Such advanced statements may include, after limitation, statements apropos to our plans, objectives or goals; our approaching bread-and-butter achievement or prospects; the abeyant aftereffect on our approaching achievement of assertive contingencies; and assumptions basal any such statements. Words such as “believes,” “anticipates,” “expects,” intends” and “plans” and agnate expressions are advised to analyze advanced statements but are not the absolute agency of anecdotic such statements. We do not intend to amend these advanced statements except as may be appropriate by applicative laws. By their actual nature, advanced statements absorb inherent risks and uncertainties, both accepted and specific,

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