Policy engagement

Zurich Insurance Group (Zurich) engages with policymakers at an international, regional, and local level, to share expertise and contribute to the development of policy which is aligned with our commitments, values, and code of conduct. Our advocacy is focused on policymakers, regulators, and standard setters in jurisdictions where we have the largest business footprint, including Switzerland, the European Union, the United States, and the United Kingdom.

Guiding principles

Zurich’s engagement with policymakers and governments is guided by the following principles:

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Accountable​

Zurich forms its views reflecting the interests of customers, shareholders, employees, and the communities in which we operate.

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Active​

Zurich engages with policymakers to address challenges and shares expertise to support policy development, focusing on effective policies and regulations for all stakeholders.

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Consistent

Zurich’s engagements with policymakers and industry associations align with our commitments and values.

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Transparent​

Zurich commits to be transparent in the policy positions that we take and participates in the EU transparency register.

How we engage

Zurich engages actively and directly with policy debates affecting climate mitigation, adaptation, and resilience, data and digital transformation, and financial services regulation amongst others. Our engagement and advocacy reflect our expertise and values as well as business priorities. We are transparent in our positions. Our bilateral engagement is delivered via:

  • Meetings with policymakers: bilateral discussions with officials and politicians to advance understanding and present ideas.
  • Consultation responses: written contributions to consultations on aspects of public policy affecting our priorities.
  • Events and roundtables: forums for bringing together groups of interested parties and experts.

We emphasize the importance of industry and cross-industry collaboration. We work across trade associations engaged in advocacy to promote positions and provide insights in support of policy outcomes in line with our values.

This includes insurance-specific trade associations such as the Swiss Insurance Association, Insurance Europe, APCIA, and Association of British Insurers, as well as broader industry associations such as economiesuisse, the European Financial Services Round Table, and the International Institute of Finance.

Our approach to policy advocacy emphasizes collaboration with leading industry groups and platforms, ensuring our collective efforts are geared towards comprehensive policy solutions across various sectors.

We engage with organizations such as the Insurance Development Forum (IDF), the Net-Zero Asset Owners Alliance (AOA), the Glasgow Financial Alliance for Net Zero (GFANZ), and the World Economic Forum (WEF).

These alliances help amplify our voice and support the delivery of our priorities, reflecting our commitment to driving for example, net-zero policy changes that are aligned with global objectives set out in the Paris Agreement.

Zurich contributes to through a range of thought leadership outputs. Examples include papers such as Accelerating the Climate Transition, Closing the Gap on Climate Action, and Artificial intelligence gives rise to ‘algorithmic liability', Zurich Talks, and our ongoing collaboration with Instituto Terra through the Zurich Forest project. With this we aim to inspire societal change and make a positive impact.

Our priorities

Zurich is dedicated to advancing those public policy debates that align with our priorities, trust in a digital society, customer protection, transitioning to net-zero, and prudential and financial regulation.

Digital Trust and Cyber Resilience

We engage to promote safe digital innovation, trust in use of data and cyber resilience. Examples of engagement include the EU AI Act and Financial Data Access Regulation.

Customer Protection

We advocate for policies ensuring customer safety through sound prudential and appropriate conduct regulation. Examples of engagement include the EU Retail Investment Strategy, Swiss Insurance Act, Solvency II, and the Insurance Recovery and Resolution Directive.

Transition to a Net-Zero Economy

We engage to support policy initiatives targeting decarbonization, adaptation and resilience innovation and long-term investment. Examples of engagement include Corporate Social Due Diligence Directive, industry rules to address greenwashing risk in Switzerland, and approaches to address natural catastrophe insurance protection gaps.

Governance

Zurich’s political engagement is subject to governance and controls to ensure compliance with regulatory and legal obligations. Public policy developments are monitored on an ongoing basis, shared with the relevant functions, and group positions coordinated for those topics touching on our priorities.

Central support and oversight are also provided for advocacy efforts in collaboration with our main trade associations to ensure alignment with our positions.

Political contributions

To support the democratic processes in jurisdictions where we operate, Zurich may make political donations in full compliance with both the spirit and letter of local laws and regulations. All political donations made by Zurich, or its businesses require prior approval from the Group Head of Political and Government Affairs, ensuring strict adherence to our internal policies as well as regulatory and legal requirements.

At present, political donations take place in the following jurisdictions:

In Switzerland, Zurich provides financial support as follows:

  • Zurich supports political parties according to the party's policy agenda and representation in Parliament. A commitment to the principles of competitive and open markets is critical from a policy perspective, as is the support of issues that facilitate sound risk management practices, including, relating to climate change and a commitment to favorable framework conditions for Switzerland as a business location.
  • Zurich supports political campaigns for public votes on initiatives or referenda that advance or defend the principles of competitive and open markets, sound risk management, including climate legislation, and a commitment to favorable framework conditions for Switzerland as a business location.

In 2023, the aggregate annual amount of this funding to political parties and campaigns in Switzerland did not exceed CHF 500,000. Such donations are governed and controlled through the appropriate policy relating to gifts, entertainment, and other advantages.

Zurich also supports politically active employees in Switzerland by granting them up to 20 percent of their working time for publicly elected political mandates. Currently, approximately 50 employees in Switzerland make use of this offer.