Zurich Insurance to pull plug on its U.A.E. business
Posted On: Nov. 27, 2015 12:00 AM CSTZurich Insurance Group Ltd. will exit its general insurance business in the United Arab Emirates by the end of 2016, reports Reuters.
The decision to exit the market follows a review, which found that the investment required in the market was not justified by its limited growth potential. The insurer will stop providing new services to retail and small business customers in the country from Nov. 30. The insurer will also not renew existing policies after this date.