Zurich Insurance completes the sale of its life and pension portfolio in Italy

Zurich Insurance has finalized the sale of its life and pension portfolio in Italy, via its Italian subsidiary Zurich Investments Life. The buyer is the Portuguese insurance company GamaLife.

The transaction won't have any impact on Zurich Insurance's contractual obligations towards policyholders and distributors. The insurer will keep providing unit-linked life insurance solutions to its customers in Italy.

The operation will allow the Swiss group to increase its solvency ratio by 8 points.