SWITZERLAND - Zurich Financial Services Group has completed the sale of parts of its Dutch operations to SNS Reaal Groep for an undisclosed sum.
The move is part of Zurich’s bid to streamline its operations and focus on core competencies.
The transaction was initially announced in May.
SNS Reaal has acquired all of Zurich’s life operations and non-life operations in the consumer and small business segments in the Netherlands.
Zurich will continue to serve the non-life corporate business customers in the Netherlands through its business unit Continental Europe Corporate (CEC).
*Zurich Financial Services has also divested Zurich Life to Swiss Re for US$460m.
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