As the U.S. justice Department on Thursday evening, would have led the life insurance subsidiaries Zurich Life and Zurich International Life in the years 2008 to 2014, some 420 insurance policies for U.S. customers, for which they received no proof of a Declaration to the tax authorities. The policies had a maximum value of approximately $ 102 million.

The Zurich knew or would at least need to know that you have helped with these policies to U.S. taxpayers to hide undeclared assets from the US authorities. The life insurance companies would not ensure that your products with the US tax laws are compliant, the Department of justice.

Specifically, the Zurich International Life sold insurance products to the US Taxpayer, whose buy-back value of goods tied to specific investments. So you’ve offered the customer a choice of investment options. In some cases, the insurance had been paid for products from Offshore banks.

insurance was never the target of an investigation

After the end of the US tax programme for Swiss banks have carried out in the Zurich a comprehensive examination of your life insurance, savings and pension products.

In July of 2015, have informed the insurer, then the US Department of justice. Zurich itself had never been the target of an investigation by the US tax authorities. Since then, the Zurich have reported substantial results of their own investigations to the authority.

in Addition, have worked the company with regulators outside the United States. The Zurich Life have received from the Swiss Federal Department of Finance permission for the disclosure of certain information to the U.S. Department of justice. (SDA)