More Insurers Join Tsunami Relief Effort

Zurich, based in Zurich, Switzerland, said it would provide up to $2 million U.S. to the affected region. The company said it is donating $1 million directly. In addition, it will match up to $1 million in charitable contributions made by its employees. Employees can make donations to a recognized charity of their choice until March 31 of this year.

"The powerful tsunamis that struck South Asia over the holidays are a human tragedy," said James J. Schiro, chief executive officer of Zurich. "Millions are in need of help. This is why we want to grant immediate relief while ensuring that we can also provide long-term reconstruction assistance."

Warren, N.J.-based Chubb said it has established a $1 million fund for disaster relief efforts. It will make direct contributions to disaster relief organizations and will match contributions by its U.S. and international employees $2 for every $1 contributed.

"We are saddened by the tremendous loss of life and destruction in Asia. Our thoughts and prayers are with all the victims of this tragedy and their families," said John Finnegan, chairman and CEO of Chubb, in a statement. "We hope that contributions from Chubb, our employees and other members of the global business community will help ease the pain for those who unfortunately continue to suffer."

New York-based MetLife said it intends to make a $1 million contribution to the American Red Cross' International Response Fund through its MetLife Foundation.

Other insurers are still considering their response. Lloyd's issued a statement that it is "currently considering the most appropriate response it can make to this disaster."