KYIV, Nov 24 – Billionaire Rinat Akhmetov’s holding group SCM has decided to withdraw from the insurance business, which is fully consistent with the strategy of focusing its investment portfolio, according to the company's website.

"In the financial sector, we are focused on the development of our banking business. We are glad that the buyer is a Ukrainian player. We believe that the creation of a large insurance player with Ukrainian capital is both in the interests of clients and in the interests of the Ukrainian insurance market as a whole. The current clients of ASKA insurance company as a result of the merger will be able to receive additional services and products," the director of the SCM investment department, Serhiy Zuzak, said.