Munich Re in search of acquisition in direct insurance
According to Jörg Schneider, Munich Re’s chief financial officer, the group is open for major acquisitions in the area of direct insurance. Munich Re is, however, not interested in a traditional insurer. The potential targets have the profile of a specialized insurance company.
The German giant’s interest in insurance is symptomatic of the rocky times through which the reinsurance business is currently going. M. Jörg Schneider has nonetheless revealed that the prices of acquisition noted in the course of recent years are too high whereas the market is sustaining a period of growing instability.
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