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Zurich sells 50% stake to Unnim

Zurich Financial Services Group has closed the sale to Unnim of its 50% stakes in the life and general insurance bancassurance companies CaixaSabadell Vida, de Seguros y Reaseguros and CaixaSabadell Companyia d'Assegurances Generals, jointly owned with Unnim.

Zurich said that the customers of the Unnim jointly owned companies will not affected by this transaction.

The Swiss insurer add that the company is committed to the life and general insurance markets in Spain and to its other bancassurance partners in the country.

As announced on 17 November 2010, the sale follows the merger of Caixa Sabadell together with Caixa Terrassa and Caixa Manlleu to form Caixa d’Estalvis Unio de Caixes de Manlleu, Sabadell i Terrassa or Unnim on 1 July 2010.

Zurich Financial Services Group is a multi-line insurance provider with a global network of subsidiaries and offices in Europe, North America, Latin America, Asia-Pacific and the Middle East as well as other markets.