Swiss general insurance provider Zurich Financial Services has announced that it has completed the 66% acquisition of Russian personal lines insurer OOO Nasta Insurance Company, successfully expanding its Russian operations.
The acquisition, in combination with Zurich’s existing Russian operations, positions the Swiss insurer as the largest foreign general insurer in the Russian market. Zurich has been active in the Russian market for 10 years, and, with the acquisition of Nasta, is able to significantly extend its distribution platform in a rapidly growing market.
The acquired company will operate within Zurich’s recently established central and eastern Europe business unit in Vienna, Austia, which includes the group’s existing units in Austria and Russia. The new entity will be managed jointly with Zurich’s existing operations in Russia.