18th Jun 2018 10:06
LONDON (Alliance News) - German insurance giant Allianz SE is on the hunt for a large scale acquisition, with FTSE 100 insurers RSA Insurance Group PLC and Aviva PLC identified as possible targets, The Sunday Times reported.
According to the newspaper, Allianz Chief Executive Officer Oliver Bate is looking to deploy some of Allianz's growing cash pile having missed out on Bermudan reinsurer XL Group in March.
Bate is said to have been working with investment bankers for several months on a hit list of possible deals, the report added.
Aviva, RSA and Direct Line shares were up 2.0%, 1.2% and 0.5%, among the best blue chip performers on Monday.
https://www.thetimes.co.uk/article/allianz-boss-oliver-baete-in-hunt-for-big-uk-deal-such-as-rsa-or-aviva-38ktp89n9
Related Shares:
AvivaDirect LineRSA.L