[1/2] The logo of the Austrian insurer Uniqa is seen in front of its headquarters in Vienna, Austria, March 10, 2016. REUTERS/Leonhard Foeger/File Photo Acquire Licensing RightsAug 24 (Reuters) - Austria's Uniqa (UNIQ.VI) and Raiffeisen Bank (RBIV.VI) are to sell their stakes in Raiffeisen Life to Russian insurer Renaissance Life, becoming the latest move by Western companies to pare back business in Russia. Uniqa held 75% of Raiffeisen Life and RBI held the remaining 25%. "This means we are withdrawing from Russia," Uniqa's Management Board Member for Customers & Markets International Wolfgang Kindl said in the statement. In the first six months of 2023, Uniqa's technical result in Russia shrank to 5.8 million euros ($6.30 million) from an adjusted 8.5 million euros in the first half of 2022.

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Persons: Leonhard Foeger, Uniqa, Wolfgang Kindl, pare, Tristan Veyet, Alexandra Schwarz, Andrey Sychev, David Evans Organizations: Uniqa, REUTERS, Raiffeisen Bank, Customers, Markets, Kremlin, Erste Group, Thomson Locations: Vienna, Austria, Western, pare, Russia, Ukraine, Gdansk