Zurich to sell Russian business to local team and exit market

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

Zurich said in February that it planned to pull out of the Russian market as a response to the attack on Ukraine. It also stopped taking on new customers or renewing existing business in the region.

The transaction will allow the new company to retain a professional team and to continue to serve the Russian market, Zurich stated.

Zurich