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Prudential Financial, Inc. and Zurich Establish Program to Expand Global Employee Benefits Options for their Clients


Published on 2011-12-05 19:00:25 - Market Wire
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NEWARK, N.J. & SCHAUMBURG, Ill.--([ ])--Prudential Group Insurance, a business of Prudential Financial, Inc. (NYSE: PRU), and Zurich American Life Insurance Company, a part of Zurich Financial Services Group (Zurich), today announced the launch of Prudential Zurich Global Benefit Solutions, a referral program to help U.S. multinational companies meet their local, international, and expatriate employee benefits needs. Through this program, Prudential can refer to Zurich client requests to cover third country nationals and in some cases, local nationals and U.S. expatriates. Additionally, Zurich can refer to Prudential requests to cover large scale U.S. domestic risks.

"By entering into this referral program, Zurich and Prudential are leveraging each of our unique capabilities and providing customers with a single point of entry and combined reporting for their domestic and foreign risks."

aPrudential Zurich Global Benefit Solutions allows us to offer U.S. multinational customers the group insurance capabilities of two world-leading insurance companies with superior financial strength and strong brand recognition,a says Lori High, president of Prudential Group Insurance. aAs companies expand globally and employ a growing number of foreign nationals in the U.S. and global markets, our new solution makes it easy for employers to purchase employee benefit plans for their mobile workforce. This makes sense both financially and operationally.a

aZurich is well positioned to offer our expertise to meet U.S. employersa group insurance needs in international markets,a notes Sherif Zakhary, head of Corporate Life and Pensions - Global Life North America for Zurich. aBy entering into this referral program, Zurich and Prudential are leveraging each of our unique capabilities and providing customers with a single point of entry and combined reporting for their domestic and foreign risks.a

Prudential Zurich Global Benefit Solutions offer customers the following services and capabilities:

  • A single point of access for customers and their intermediaries;
  • Zurich and Prudential will seek to match current terms and conditions in their customersa current employee benefits programs, if required and where possible;
  • Pricing generated independently by each company utilizing knowledge and awareness of the global markets;
  • Products available through this program, where possible, include group term life (basic, voluntary, dependent), accidental death and dismemberment insurance, long term disability insurance, emergency evacuation, and expatriate pension plans.

Prudential is adding this new program to a growing portfolio of products and services, including its existing multinational pooling solution. High continues, aOur new global offering addresses a growing need in the U.S. for large and mid-market employers. Multinational companies are looking for solutions to help them manage the complex issues related to administering employee benefit plans for mobile workforces. We are now uniquely poised to meet these needs through a single point of contact, easing companiesa administrative burden.a

About Zurich

Zurich American Life Insurance Company is part of Zurich Financial Services Group, which is a leading multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets. For more information about Zurichas business in North America, go to [ http://www.zurichna.com/zna/media/news-releases/archive/boilerplate.htm ]. Group coverages offered in the United States are issued by Zurich American Life Insurance Company, 1400 American Lane, Schaumburg, IL 60196.

The Zurich logo is a registered trademark of Zurich Insurance Company Ltd and its related affiliates.

About Prudential

Prudential Financial, Inc. (NYSE: PRU), a financial services leader, has operations in the United States, Asia, Europe, and Latin America. Prudentialas diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudentialas iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit [ http://www.news.prudential.com/ ].

Prudential, the Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

Group coverages issued by The Prudential Insurance Company of America, 751 Broad Street, Newark, NJ.

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Contributing Sources