(gb.) The largest Swiss insurance group is interested in buying the property insurance business of its US rival MetLife. Zurich confirmed these rumors in a statement on Friday evening. It is not yet clear whether a purchase will be made and at what price. According to Zurich, the transaction would be handled by the subsidiary Farmers Group.
Specifically, Zurich is interested in MetLife’s auto and home insurance business. The industry newspaper “Finanz und Wirtschaft” writes that the takeover could cost around 4 billion dollars. The number has not been confirmed by Zurich Insurance. The SMI group earned $ 34 billion in claims business last year.
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