Zurich is selling its mexican business - Zurich Afore - to The Principal Financial Group. The agreement is still subject to approval by the mexican authorities.
The chief executive of Zurich Group Mexico, Rolf Gafner, commented on the move: "This transaction reflects Zurich's strategy and intent to further concentrate our efforts in Mexico in the areas of property and casualty, and life in the consumer and corporate segments, as well as risk engingeering in the corporate segment."
Zurich Afore is a private retirement fund management company.
