ASIC civil penalty proceedings on claim handling
Zurich acknowledges the proceedings commenced by the Australian Securities and Investments Commission (ASIC) in relation to the handling of an income protection claim lodged with OnePath Life Limited in 2018.
Zurich is considering the matters raised by ASIC in its concise statement and is committed to working constructively through the Court process.
Zurich will not be providing further comment given the matter is now before the Court.
For media enquiries contact:
Adam Siddique
Head of Public and External Affairs
+61 407 473 630
media@zurich.com.au
Zurich Financial Services Australia is a life insurance, commercial insurance and investments specialist that has been participating in the Australian market since 1920. Since its acquisition of OnePath Life from ANZ in 2019, the organisation provides life insurance to more than 1.5 million Australian customers under both the Zurich and OnePath Life brands. Further information about Zurich Financial Services Australia is available at www.zurich.com.au.
Zurich Insurance Group (Zurich) is a leading global multi-line insurer founded more than 150 years ago, which has grown into a business serving more than 82 million customers in more than 200 countries and territories, while delivering industry-leading total shareholder returns. Reflecting its purpose to ‘create a brighter future together,’ Zurich offers protection services that go beyond traditional insurance, to support its customers in building resilience. Since 2020, the Zurich Forest project supports reforestation and biodiversity restoration in Brazil’s Atlantic Forest. The Group has more than 65,000 employees and is headquartered in Zurich, Switzerland. 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 is available at www.zurich.com.