Zurich announces the successful placement of USD 500 million of dated subordinated debt

Zurich Insurance Group (Zurich), today announced the successful placement of USD 500 million of dated subordinated notes (the 'Notes').

The Notes, which will mature in May 2052 and are first callable in February 2032, will be issued by Zurich Finance (Ireland) DAC. The annual coupon is fixed at 3.5% until May 2032.

The transaction was targeted at European and Asian institutional investors and has been conducted for general corporate purposes.

Zurich Insurance Group

Mythenquai 2

8002 Zurich

Switzerland

[phone]

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Investor Relations

Zurich Insurance Group

Mythenquai 2

8002 Zurich

Switzerland

[phone]

[e-mail]

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Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich's customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. 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.

General Notice

This news release appears as a matter of record only, and all of the above-referenced notes (the 'Notes') have been placed. This announcement constitutes neither an offer to sell nor a solicitation to buy or to subscribe to any of the Notes or any other securities of Zurich Insurance Group Ltd, Zurich Insurance Company Ltd or Zurich Finance (Ireland) DAC (the 'Issuer').

The Notes may not be publicly offered, directly or indirectly, in Switzerland within the meaning of the Swiss Financial Services Act ('FinSA') and no application has or will be made to admit the Notes to trading on any trading venue (exchange or multilateral trading facility) in Switzerland. Neither this news release nor any offering or marketing material relating to the Notes constitutes a prospectus pursuant to the FinSA, and no offering or marketing material relating to the Notes may be publicly distributed or otherwise made publicly available in Switzerland.

This news release does not constitute a prospectus or a supplementary prospectus pursuant to the Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017 (the 'EU Prospectus Regulation') or the EU Prospectus Regulation as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the 'UK Prospectus Regulation').

This news release is only addressed to, and is only directed at, qualified investors in any member state of the European Economic Area within the meaning of the EU Prospectus Regulation. The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the European Economic Area.

This news release is directed only at persons who are qualified investors within the meaning of the UK Prospectus Regulation and who (i) have professional experience in matters relating to investments falling within Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or (ii) are persons falling within Article 49 (2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) or to whom it may otherwise lawfully be communicated (all such persons together being referred to as relevant persons). The Notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom.

This news release is only directed at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.

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