Switzerland’s largest insurer Zurich Insurance Group has temporarily removed its original logo on social media, which featured a big white Z against a blue circle after the letter has become a symbol of support for Russia’s military campaign against Ukraine.
The new version of Zurich Insurance’s logo is similar in design to the original one, only now sports the word Zurich in full instead of the capital Z.
The company has explained its move to temporarily remove the letter ‘Z’ from social channels where it appears in isolation and could be misinterpreted, with the Swiss insurer’s anxiety to avoid any misunderstanding because it did not want its logo to be misinterpreted as supporting Russia in the conflict.
It added that they’re monitoring the situation closely and will take further actions if and when required.
The letter Z, along with V and several others, was first spotted used as a marking on Russian military hardware in late February, when President Vladimir Putin launched a military offensive against Ukraine.
The letter has been adopted by Russians supporting the war, with it being prominent on flags and at pro-Kremlin rallies, although there has been no official comment so far as to what these letters stand for.
Some regional authorities have even been displaying the symbol on vehicles, billboards, and even on buildings as a symbol of support for the Kremlin’s actions, at least in Russia.
Zurich Insurance announced earlier this month that it was suspending its operations in Russia, is no longer taking on new domestic customers in Russia, and will not renew existing local business.
The Swiss insurer had also pulled out of Russia’s Nord Stream 2 gas pipeline project in January, fearing it could be targeted by US sanctions.
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