Zurich Financial Services Group has announced the completion of the acquisition of a remaining 34 percent minority stake in Russia’s OOO NASTA Insurance Company, which was renamed Zurich Retail Insurance Ltd. at the end of 2007.
Zurich said the purchase price was around $205 million, and that “all necessary regulatory approvals to close the transaction have been obtained.”
“Zurich acquired a 66 percent majority stake in NASTA in February 2007 with an agreed path to 100 percent ownership by 2010,” the bulletin continued. “Zurich Retail Insurance Ltd. is now the largest foreign controlled general insurer exclusively operating under an international brand in the Russian market.”
Source: Zurich Financial – www.zurich.com
Topics Mergers & Acquisitions Russia
Was this article valuable?
Here are more articles you may enjoy.
How One Fla. Insurance Agent Allegedly Used Another’s License to Swipe Commissions 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
