Zurich Insurance to exit Russia amid mounting sanctions 

  • 5/22/2022
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RIYADH: Switzerland-based Zurich Insurance Group will sell its Russia business to 11 members of its team as it withdraws from the heavily-sanctioned country. The business will run independently as part of a different brand, Bloomberg reported citing a statement. Similarly, the Dutch investment firm Prosus is eyeing selling its $6 billion Russian classified ads business Avito. This comes as part of the e-commerce firm’s plan to “decouple” itself from its biggest Russian asset two months ago, according to Bloomberg.

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