Zurich Insurance Group, Switzerland’s largest insurer, has temporarily removed its original logo on social media, which featured a large white Z against a blue circle, after the letter became a symbol of support for Russia’s military campaign against Ukraine.
The new Zurich Insurance logo is similar in design to the original, but it now includes the word Zurich in full rather than the capital Z.
The company explained its decision to temporarily remove the letter ‘Z’ from social channels where it could be misinterpreted, citing the Swiss insurer’s desire to avoid any misunderstanding because it did not want its logo to be misinterpreted as supporting Russia in the conflict.
It also stated that they are closely monitoring the situation and will take appropriate action if necessary.
The letter Z, along with the letters V and several others, was first seen on Russian military hardware in late February, when President Vladimir Putin launched a military offensive against Ukraine.
The letter has been adopted by Russians who support the war, with it prominently displayed on flags and at pro-Kremlin rallies, though no official comment has been made as to what these letters represent.
In Russia, some regional authorities have even displayed the symbol on vehicles, billboards, and even buildings as a symbol of support for the Kremlin’s actions.
Zurich Insurance announced earlier this month that it is ceasing operations in Russia, will not accept new domestic customers in Russia, and will not renew existing local business.
In January, the Swiss insurer withdrew from Russia’s Nord Stream 2 gas pipeline project, fearing it would be targeted by US sanctions.
