Zurich South Africa benefits from completion of global alignment process with the Zurich Group

Zurich South Africa today completed its delisting process from the Johannesburg Stock Exchange (JSE), following the successful acquisition by SA Fire House of the Company’s remaining equity from minority shareholders. The transaction, concluded earlier this month, further demonstrated Zurich’s commitment to its South African subsidiary.

“The finalisation of this process is great news for our business, as being a wholly-owned subsidiary of Zurich brings with it many benefits,” says Edwyn O’Neill, Chief Executive Officer, Zurich South Africa. “Not only does it allow for increased strategic alignment and the ability to capitalise on global experience to simplify business processes, but also enables us to focus on our core competencies and growth aspirations within the corporate and commercial segments. We will continue to deliver on business sustainability and profitability objectives; as well as the achievement of our ongoing turnaround strategy, which is demonstrating good returns already.” 

The shares in Zurich South Africa were acquired from minority shareholders at R240 per share.