Zurich’s purchase of the ANZ bank life insurance unit could be the first of many acquisitions in the region as the global insurer seeks more penetration and a bigger slice of the Asia Pacific market.
The ANZ deal quickly made waves in the Australian market propelling the Swiss insurance giant to the number one spot of Australia's life business with a 19 percent market share of the individual life insurance market.
According to Jack Howell CEO Asia Pacific at Zurich, the insurer is under-represented across the region which he sees as a major engine for growth for the firm.
«In Asia-Pacific, we have an opportunity not only to participate in what is a growing market, one of the fastest growing markets in the world, but also to increase our share in this market,» Howell said.
