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Reuters
Reuters
Business
Tom Sims, Simon Jessop and Paul Arnold

Allianz, Swiss Re join other financial firms in turning from Russia

Russia Swiss Re Allianz Ukraine
FILE PHOTO: The logo of insurer Allianz SE is seen on the company building in Puteaux at the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau

Allianz and Swiss Re said on Monday they were cutting back on Russian business as European financial institutions turn their backs on Russia.

The German insurer and Swiss reinsurer join banks Deutsche, Goldman Sachs and JPMorgan Chase which have exited Russia following its Feb. 24 invasion of Ukraine and subsequent Western government sanctions.

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