Zurich narrows focus to core Australian insurance operations
For Zurich Financial Services Australia, the sale of ZIM forms part of a move to concentrate on its core insurance activities and related businesses in the local market. “Over many years, Zurich Investment Management has delivered compelling managed fund solutions to Australian investors. The decision to divest ZIM reflects where Zurich is heading as an organisation, allowing us to continue to focus on our core operations in the Australian insurance market. Russell Investments brings global scale, deep investment capabilities, and a strong local presence, making it an ideal partner for our advisers, investors, and employees,” Justin Delaney, CEO of Zurich Australia & New Zealand, said. Zurich’s Australian operations span life insurance, commercial insurance, and investments, and the group continues to offer life cover under both the Zurich and OnePath Life brands. The divestment of ZIM does not change Zurich’s existing insurance portfolios but may shape future product and distribution arrangements, including those that combine investment and protection solutions for advised high-net-worth clients.