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.
