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.
Wanted: War-Zone Divers to Scrape Barnacles From Ships in Persian Gulf 
Trump Says Illegal Immigration Increased Car Insurance but Experts Say Otherwise 
Appetite for Insurance M&A Remains as AI Enters the Chat, Says PwC 
California Homeowners Insurance Costs Still 41% Below National Average, Report Shows 
