Zurich Closes Sale of Unnim in Spain

Zurich Financial Services Group announced that it has “closed the sale to Unnim of its 50 percent stakes in the life and general insurance bancassurance companies CaixaSabadell Vida, S.A. de Seguros y Reaseguros and CaixaSabadell Companyia d’Assegurances Generals, S.A., jointly owned with Unnim (the “Unnim Jointly Owned Companies”).

“Customers of the Unnim Jointly Owned Companies are not affected by this transaction.”

Zurich initially announced that sale on November 17, 2010, following the merger of Caixa Sabadell together with Caixa Terrassa and Caixa Manlleu to form Caixa d’Estalvis Unió de Caixes de Manlleu, Sabadell i Terrassa or Unnim on July 1, 2010.

Zurich added that it “remains fully committed to the life and general insurance markets in Spain and to its other bancassurance partners in the country.”

Source: Zurich Financial Services