Zurich announces full ownership of Zurich Retail Insurance Ltd. in Russia
Zurich.– Zurich Financial Services Group (Zurich) has announced today the completion of the acquisition of a remaining 34% minority stake in OOO NASTA Insurance Company (NASTA), which was renamed Zurich Retail Insurance Ltd at the end of 2007. The purchase price amounts to approximately USD 205 million. All necessary regulatory approvals to close the transaction have been obtained.
Zurich acquired a 66% majority stake in NASTA in February 2007 with an agreed path to 100% ownership by 2010. Zurich Retail Insurance Ltd. is now the largest foreign controlled general insurer exclusively operating under an international brand in the Russian market.
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