Zurich targets non-oil dependent nations after crude prices drop
Declines in crude prices have prompted Zurich Insurance to refocus its Middle East and Africa strategy to economies that aren't dependent on oil. As the company looks to expand into alternative markets, Zurich says it will continue seeking opportunities in the United Arab Emirates, which has a more diversified economy than many other Gulf states, and begin exploring markets in Africa. "I see a lot of very positive signs over in Africa and that includes both the north and also the south Sub-Saharan Africa,” said Peter Englund, CEO of global corporate business in the Middle East.

Zurich Insurance will continue to focus on the UAE as its prime market in the Gulf region and pursue new opportunities in African countries that are less dependent on oil revenues, a senior company official said.