Zurich closes divestment of its Life portfolio in Taiwan
Zurich, October 29, 2004 – Zurich Financial Services Group (Zurich) has completed the sale of all Life Insurance policies written by its Taiwanese branch, including the related assets and liabilities, to Far Glory Life Insurance Company. This transaction had been announced on August 12, 2004. Both parties agreed to keep the value of the transaction confidential.
This step is in line with Zurich’s strategy to sharpen the focus of the Group’s Life Insurance business. Zurich remains committed to its General Insurance operation in Taiwan, which is not affected by this transaction.
