Zurich to scale back Middle East business after global review

The decision to exit general insurance in the region follows a company-wide strategic review.

By Sarah Jones, Bloomberg | Updated on November 26, 2015

Zurich will stop writing new general insurance policies for retail and small business customers in the Middle East by the end of the month. (AP Photo/Steffen Schmidt)

(Bloomberg) — Zurich Insurance Group Plc said it will stop writing general insurance business in the Middle East at the end of month because of the “limited potential” for profitable growth.

The decision to exit general insurance in the region follows a company-wide strategic review. Zurich remains “committed” to its life insurance unit in the Middle East, which won’t be affected by the decision, the company said in a statement on Thursday. Zurich said it’s unclear how many jobs will be cut.

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