ALLIANZ could expand on the US market by acquiring XL Group
Bermuda-based insurer XL Group is a potential acquisition target for ALLIANZ, in order to expand its coverage on the US property-casualty insurance market, according to the global financial media.
"Interest from insurers in potentially acquiring XL, which had a market value of almost USD 10 billion (...), is preliminary and may not lead to a takeover", Bloomberg reports.
ALLIANZ chief executive Oliver BAETE said last year that his priority in terms of deal-making would be to purchase a US-based P&C insurer, as reported by Bloomberg.
Author: Vlad BOLDIJAR
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