Zurich to divest its insurance activities in Russia

Zurich has withdrawn from the Russian insurance market. The Swiss group has agreed to sell its activities to eleven members of its local team.

The transaction is pending regulatory approval. At the end of the process, the new unit will operate under a different name.

With the turnover of 2021 set at nearly 34 million USD, Zurich holds 0.3% of the Russian general insurance market.