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ZFS sells European business to Generali

Zurich Financial Services’ restructuring continues apace with a deal to sell its businesses in Poland, Hungary, Slovakia and Czech Republic to Generali.

The two companies have also signed agreements to collaborate on international corporate clients so Zurich will still be able to offer a Europe-wide service to its clients.

Zurich has also sold its Mexican pension fund management business. The news comes after the group was forced to issue four profit warnings in the last year and the announcement that chief executive Rolf Huppi will be standing down.

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