in London. In 2002, ZFS focused on insurance-related financial products and services. ZFS returned to profitability in 2003, announcing that it had met its targets and posted a profit of US$2.1 billion, compared to a loss of US$3.4 billion a year earlier. Operating income increased 93 percent to $2.3 billion, marking the turnaround. Zurich remained on track in 2004 with net income of US$2.5 billion and operating income of US$3.1 billion, an increase of 36 percent over the previous year. Zurich's net income increased by 30 percent to US$3.2 billion in 2005, and operating income rose by 32 percent to US$3.9 billion. In 2008, "Zurich Financial Services" recorded net income of US$3 billion, compared to a record US$5.7 billion in the previous year. In July 2011, Zurich announced that it had signed definitive agreements for a long-term alliance with "Banco Santander SA" (Santander) over 25 years in Latin America. Zurich Insurance Group (since 2012) In April 2012, Zurich Financial Services Ltd changed its name to Zurich Insurance Group Ltd. In a statement, the Group explained the rationale behind the name change. "In recognition of this strategic focus, the reference to financial services in the company name has been replaced by indicating the insurance activity of the Group instead and to specify the purpose accordingly." In December 2015, the CEO Martin Senn (who died by suicide in May 2016) announced his resignation. Despite years of highly profitable business operations, the focus was put on recent events which forced Senn to step down. Interim chairman took over as acting CEO. In January 2016, it was announced that Zurich had hired Mario Greco, CEO of Generali as its next chief executive, and that he would start in May. Zurich Spain has launched Klinc in 2018, a Spanish digital company that offers online insurance plans for cars, life, home, devices and micromobility led by Stefano de Liguoro, Head of Digital at Zurich Seguros. The company sprung from the multinational insurance company Zurich Seguros. In 2021, the company merged with doppo, a digital auto insurance start up. Zurich Klinc is dedicated to promoting a healthy and sustainable lifestyle. As a result, it focuses on promoting and sponsoring sporting events such as the Orbea Monegros, and the Orbea Klasika in Bilbao In November 2021, Zurich signed an acquisition agreement with Texas-based Special Insurance Services. On 3 January 2022, Zurich Insurance Group announced that its Italian subsidiary,