July 1, the business unit announced yesterday.

Mr. Contrata will be responsible for the unit's finance, accounting and treasury operations as well as information technology. He will report to J.

Peter Connors, President and CEO of Zurich Global Energy, and will be based in Hamilton, Bermuda.

Mr. Contrata succeeds Witold Bzdel, who is moving into a consulting role with Zurich Global Energy.

Zurich Global Energy specialises in offering comprehensive risk solutions, risk engineering services and claims support tailored to the individual needs of oil and gas, petrochemical, mining and power companies.

Mr. Contrata was previously Vice President & Controller for Zurich Global Energy.

Prior to joining Zurich Global Energy, Mr. Contrata was with Bermuda-based Heddington Insurance Limited, most recently as Assistant Comptroller. Prior to that, he managed accounting operations for the Heddington Group of Companies, and before that, spent three years with Arthur Anderson & Co.

"Fred is already a valuable member of Zurich Global Energy and, with his broadened responsibilities, will play an important role in managing our growth,'' said Mr. Connors.

"Fred's experience with accounting and audit procedures at a global level and his knowledge of information systems will help us become a key player in the global energy risk business.'' Mr. Contrata holds a B.S. in Accounting from the University of Connecticut and also studied at the University of Maastrict in the Netherlands. He is a member of the American Institute of Certified Public Accountants and the Connecticut Society of Certified Public Accountants. In addition, Mr. Contrata is a candidate for the Chartered Property Casualty Underwriter designation.

Zurich Global Energy is the newly expanded global business unit of the Zurich Financial Services Group, which incorporates the former international operations of Zurich Global Energy with the US-based activities of Zurich US Energy.

The unit's more global focus reflects the growing international nature of the energy business and better positions the unit to address clients' assets and balance sheets worldwide. Its principal underwriting offices are in Bermuda, Chicago, Houston, London, New York, Oslo, Paris, Toronto, Zurich, and Southeast Asia.

The Zurich Financial Services Group (www.zurich.com) is a global leader in the financial services industry, providing its customers with solutions in the area of financial protection and asset accumulation. The Group concentrates its activities in four core businesses: non -life and life insurance, reinsurance and asset management.

Headquartered in Zurich, Switzerland, the group's worldwide presence builds on strong positions in its three key markets: United States, United Kingdom and Switzerland.

It has offices in more than 60 countries reaching 35 million customers and employing 68,000 people.

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