Zurich Financial Services Group announced the completion of the acquisition of 66 percent of OOO NASTA Insurance Company, a leading Russian personal lines insurer.
Zurich entered into an agreement for the purchase of a majority stake in OOO NASTA in February (See IJ web site Feb. 27).
The Company noted that the transaction closed upon receiving “all necessary regulatory approvals.”
Zurich noted that NASTA wrote approximately $230 million of gross written premiums in 2006, and has a strong record of organic premium growth in each of the past five years. The Company has more than 3,000 employees and approximately 3,500 tied agents as well as an extensive distribution network, with 67 branches and over 300 representative offices across Russia.
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