Zurich Insurance sold its South African subsidiary to Fairfax Financial Holdings

After selling its operations in Morocco in June 2016, Zurich Insurance is now offloading its subsidiary Zurich Insurance Compagny South Africa. This operation has marked the Swiss insurer's exit from the African market.

Present in South Africa and Botswana, this subsidiary will now belong to the Canadian Fairfax Financial Holdings. The transaction, the amount of which has not been disclosed, is expected to be finalised by the end of 2016.

Read also:

• Switzerland: Zurich Insurance combines its life and non life activities
• Zurich Insurance ceded its activities in Morocco