Zurich Insurance Company Ltd. is a Swiss firm that offers life and P&C insurance products and services to individuals and companies through a global network of subsidiaries and offices worldwide. It has over 50,000 employees serving customers in more than 170 countries, including Argentina, Brazil, Chile, Colombia, Mexico and Venezuela. In 2011, the company signed a 25-year alliance in Latin America with Spanish banking group Santander, under which Zurich acquired a 51% stake in the life insurance, pension and general insurance operations of Santander in Brazil, Mexico, Chile, Argentina and Uruguay. In 2014, the Brazilian unit of the company started to offer capitalization products to the corporate segment, mainly using channels such as banks, retailers and associations. That same year the Swiss company was named as the provider of a US$600mn surety bond to the consortium responsible for expanding the Panama Canal, Grupo Unidos por el Canal (GUPC). In early-2015, Colombia's financial sector regulator, Superfinanciera, approved the incorporation of Zurich Colombia Seguros. Zurich Insurance Company was founded in 1872 and is based in Zurich.