Turicum

History

2022: Russian business Zurich Insurance sold to local management and renamed "Turikum"

On May 20, 2022, 3 months after the outbreak of the armed conflict on, To Ukraine the Swiss insurance company Zurich Insurance announced that it had extended the Russian business to local management and would leave the market. and RUSSIAN FEDERATION Financial other deal parameters are not disclosed. It is only known that the assets will go to 11 members of the division team.

The insurer intends to continue to fulfill obligations under previously issued insurance and reinsurance contracts.

As a result, JSC IC Zurich withdrew from the Zurich Insurance Group and continued its activities in Russia as a separate company under the brand of JSC IC Turikum.

Swiss insurance company Zurich Insurance sells Russian business to local management

This solution will allow the company to maintain a professional team with accumulated insurance experience, provide customers with reliable insurance protection and high quality of service, as well as offer insurance products unique to the Russian market, - explained in Zurich Insurance Group.

They also added that the sale of the Russian division will allow new owners to preserve the team with accumulated experience and continue to serve the market in the Russian Federation.

Zurich in Russia was engaged in property and accident insurance. It accounted for about 0.3% of the Russian insurance market, not counting life insurance.

According to the publication "Company," Zurich considered various options and communicated with potential buyers. But in the end, it was decided to sell the company to 11 employees, including not only top managers.

This is not to say that the Russian "daughter" Zurich is given for nothing, but the deal is held at a very attractive price for the buyer. The main criterion in determining the buyer was the well-being of those who work in the company, and stability in providing services to its clients, - said the source of the publication.[1]

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