8 Sep 2009 14:09

FAS approves transfer of CJSC Zurich Insurance Co. to control of OOO Zurich Retail

MOSCOW. Sept 8 (Interfax) - Russia's Federal Antimonopoly Service (FAS) has approved a transaction between two members of the Zurich Financial Group in which OOO Zurich Retail Insurance (Zurich Retail) will acquire 99.9% of the voting shares in CJSC Zurich Insurance Company, the FAS said in a statement.

The moderately sized Zurich Insurance Company has represented the Zurich Group in Russia for a long time. The international insurer said that it had purchased Russia's NASTA, one of the leaders on the automotive insurance market, which was renamed Zurich Retail.

The company is currently reordering the structure of its Russian assets.

OOO Zurich Retail specializes in retail insurance, as well as insurance services to small and medium sized businesses.

CJSC Zurich Insurance Company provides insurance solutions and services, as well as risk management for corporate clients.