Zurich Insurance: sale of the life insurance portfolio in Germany

According to the insurance trade journal "Versicherungsmonitor", Zurich Insurance Group is considering the possible sale of its life insurance portfolio in Germany. The potential buyers would be the life insurance companies Athora, Frankfurter Leben and Viridium.

The portfolio in question represents nearly 60% of Deutscher Herold's life funds in Germany, namely 28 billion EUR.

According to the same source, Zurich has set up a new entity called ZurichSander Vermoegensverwaltungs AG to receive the portfolio in question and arrange its sale.