Zurich confirms it is in discussions regarding MetLife’s U.S. P&C business
Zurich Insurance Group (Zurich) notes media reports regarding a potential transaction with MetLife.
Zurich confirms it is in discussions to acquire MetLife’s U.S. P&C business. Zurich subsidiary, Farmers Group, Inc., is proposing to acquire the business in conjunction with the Farmers Exchanges1.
The terms of any transaction are subject to negotiations and there can be no assurance that a transaction will take place.
1 Zurich Insurance Group has no ownership interest in the Farmers Exchanges. Farmers Group, Inc., a wholly owned subsidiary of the Group, provides certain non-claims services and ancillary services to the Farmers Exchanges as its attorney-in-fact and receives fees for its services.
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Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.