Zurich insurance will stop non-life in Middle East
Saturday, 11 28 2015, Category: Insurance and Reinsurance, Country: Middle East
The Swiss Zurich Insurance Group which has multiple insurance activities internationally announced on Thursday that it will stop its non-life insurance business in the Middle Eastern region by the end of the current month due to the limited possibilities to achieve profitable growth.
The Bloomberg company mentioned that Zurich Insurance Group’s decision to exit non-life insurance business which means all insurance classes except life in the Middle Eastern region is the direct result of a strategic and comprehensive study in the region. But although the company is still exclusively committed to life insurance it still did not determine the number of employees that it will lay off.
Source: Al Mal News