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ZURN - Zurich Insurance AG News Story

CHF390.4 -5.0  -1.3%

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Large Cap
Market Cap £45.51bn
Enterprise Value £50.06bn
Revenue £39.75bn
Position in Universe 22nd / 1039

Zurich Insurance stresses compliance, declines comment on Nord Stream 2

Wed 13th January, 2021 9:47am
ZURICH, Jan 13 (Reuters) - Zurich Insurance Group  ZURN.S 
emphasised its compliance standards on Wednesday while declining
to comment specifically on the Russia-led Nord Stream 2 gas
pipeline project.
    The U.S. State Department has warned European companies
involved in Nord Stream 2 that they risk sanctions as the
outgoing Trump administration prepares a final round of punitive
measures against the project, two sources told Reuters.
    One U.S. source said the State Department is expected to
issue a report on companies it believes are helping the
Russia-to-Germany pipeline and Zurich Insurance could be listed
in the report. 
    "Zurich has a comprehensive compliance framework in place
and is committed to fully comply with any applicable sanctions
regulations. We do not comment on specific customer
relationships," the Swiss insurer said in a statement.

 (Reporting by Paul Arnold; writing by Michael Shields; editing
by Jason Neely)
 ((Michael.Shields@thomsonreuters.com; +41 41 528 3630; Reuters
Messaging: michael.shields.thomsonreuters.com@reuters.net))
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