Zurich Insurance leaving Russian market

Zurich Insurance leaving Russian market

A Swiss-based Zurich Insurance Group Ltd. (Zurich), one of the world’s leaders in insurance, is set to leave the Russian market, selling its business to 11 members of its local team.

That’s according to a company statement, seen by Ukrinform.

“Under its new owners, the business will operate independently under a different brand, while Zurich will no longer conduct business operations in Russia,” the statement says.

Zurich Russia is a property and casualty insurer, it is reported.

Read also: EU seeking ways to use Russian frozen assets to rebuild Ukraine

As reported earlier, since the onset of full-scale Russian invasion of Ukraine, the latter’s international partners and allies imposed tough sanctions and export restrictions on Russia, while hundreds of international companies announced they were suspending or halting operations in Russia and withdrawing from joint projects with Russian counterparts. 

Sign up for our free newsletter skorik@ukrinform.com.

Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2023 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: