Zurich to sell Russian business and exit market

Mark Battersby
clock • 1 min read

Zurich Insurance Group (Zurich) has agreed to sell its business in Russia to 11 members of the unit's team, it said in a statement on 20 May.  Under its new owners, the business will operate independently under a different brand, while Zurich will no longer conduct business operations in Russia, it said.  Zurich said "the transaction will allow the new company to retain a professional team with accumulated insurance expertise and to continue serving the Russian market". The sale of Joint Stock Company Insurance Company "Zurich" (Zurich Russia) is subject to approval of the relevant...

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