Zurich is to concentrate on insurance following an agreement to sell Zurich Investment Management Limited (ZIM) to Russell Investments.
Justin Delaney, CEO of Zurich Australia & New Zealand, said the decision to divest ZIM allows the firm to focus on its core operations in the Australian insurance market.
“Russell Investments brings global scale, deep investment capabilities and a strong local presence, making it an ideal partner for our advisers, investors, and employees.”
Upon completion, ZIM’s distribution, client-facing and retail investment specialists will join Russell Investments Australia. The combined team will extend Russell Investments’ portfolio management and servicing capabilities to a wider group of advisers.
Jason Edgar, Head of Asia-Pacific at Russell Investments, said: “Delivering institutional grade investment solutions to wealth advisers is a global priority for Russell Investments.
“Adding a business of ZIM’s calibre will enable us to extend these capabilities to even more advisers and reinforces our commitment to leading in this fast-growing segment of the Australian market.”
The transaction is subject to customary closing conditions, with completion anticipated around the end of the first quarter of 2026. Terms of the deal were not disclosed.
