Insurance company Uniqa Group sold 75% of Raiffeisen Life’s business to Renaissance Life, completing its exit from Russia. This is reported by TASS today, October 4, with reference to the official statement from the company itself.
It is also clarified that after February 2022 the company contributed less than 1% of revenue to the Uniqa Group.
“After completing this transaction, we finally left the Russian market. We thank all our former employees for their work over the past years and our former partner Raiffeisenbank JSC for many years of interaction and cooperation. First of all we want to thank our former clients for the trust they have placed in us.” – stated the member of the group’s board of directors responsible for international markets Wolfgang Kindl.
The remaining 25% is owned by JSC Raiffeisenbank, controlled by Raiffeisen Bank International. The deal with Renaissance Life was closed a year ago, but it took a long time to get approval from the country’s authorities.
