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The "Farmers Insurance News-Alert" website is dedicated to providing the consumer and general public with detailed information concerning the Farmers Insurance Group. This includes fraud reports, consumer complaints, lawsuit's and other legal actions taken against this company. All information contained herein is for educational purposes only. Original sources, when known are sited.

 


ZURICH, Switzerland (AP) _ The chief financial officer of Switzerland's Zurich Insurance Co. has resigned over an investigation into possible insider trading.

Markus Rohrbasser, 44, offered his resignation over a Swiss investigation linked to the merger of Zurich's financial services business
and that of British tobacco group B.A.T., Zurich Financial Services said
Sunday.

The procedure opened by the Zurich district attorney's office, which targets no named individuals, was prompted by unusual movements in
Zurich shares prior to the announcement in October 1997 of the Zurich-B.A.T. merger.

The merger, completed last month, created one of the world's largest insurance and asset management companies.

The inquiry is still completely open, but Rohrbasser offered to quit in the interests of the company, the Zurich statement said.

Zurich named Guenther Gose, a board member since 1990, to replace
Rohrbasser, who has already left the company.

 

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