Zurich Insurance says may sell South Africa business

Zurich Insurance Group's office in Johannesburg, South Africa.

(Reuters) — Zurich Insurance Group A.G. may sell its South African business as part of a strategic review, the Swiss group said on Friday.

“In recent years, Zurich has successfully turned around our South African insurance business, which includes our operations in Botswana. The group is now evaluating whether it is best placed to own this business, taking into account the interests of our key stakeholders,” it said in a statement.

Zurich said it was too early to comment on what this meant for the business. It noted that it had said at an investor presentation in May 2015 that reshaping its geographic footprint was a top priority as it seeks to build more sustainable businesses and improve profitability.