Russia’s KIT Finance Group said that it has closed the deal to sell 99.99% of voting shares in its subsidiary, KIT Finance Insurance, to international insurer Liberty Mutual.

The Russian anti-trust watchdog approved the request of ITB U.K. & Europe Limited, an asset of Liberty Mutual, to buy the stake earlier in March.

The ultimate beneficiaries of the KIT Finance Holding are rail monopoly Russian Railways and non-state railway pension fund Blagosostoyaniye.