Daily Insurance Industry News
Daily Insurance Industry News
Wednesday 22nd of May 2019
November 24, 2008

Zurich completes NASTA acquisition

by David Masters

Story link: Zurich completes NASTA acquisition

Zurich Financial Services Group has completed its acquisition of Russia-based OOO NASTA Insurance Company.

Zurich, based in Switzerland, purchased a 66% stake in NASTA in February 2007, and agreed to purchase the rest of the company by 2010.

The remaining 34% of NASTA has now been purchased by Zurich for $205 million (£137 million), and has been renamed Zurich Retail Insurance Ltd.

Regulatory approvals needed to complete the transaction have all been obtained.

A statement by Zurich regarding the acquisition revealed that Zurich Retail Insurance Ltd is now the largest foreign controlled general insurer in Russia operating exclusively under an international brand name.


News posted:

Related stories to Zurich completes NASTA acquisition: