Zurich Financial Services Group has further extended its business interests in the General Insurance market around the globe by completing the acquisition of Russian Insurance Company, NASTA.
Zurich, based in Switzerland, originally purchased a 66% stake in NASTA in 2007 and following this acquisition of the remaining 34% will rename the company Zurich Retail Insurance Ltd.
Zurich Retail Insurance Ltd is now the largest foreign controlled general insurer in Russia operating exclusively under an international brand name. This new acquisition offers Zurich further access to insurance markets in Russia via up to 60 offices around the country.
There have of course been concerns around the financial stability of some financial institutions, and insurance companies have not escaped speculation, but it is worth noting that Zurich was founded in 1872, employing in the region of 60,000 people in more than 170 countries.
The fact that Zurich have business interests across the globe offers them opportunity to draw on a staggering amount of underwriting experience and analytical data which undoubtedly positions them as one of the main players in the provision of personal, commercial and corporate insurance throughout the world.
With main offices in 11 of the UK’s major cities, customers are assured of being able to access advice and support without too much difficulty.
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