Announced
Completed
Financials
Tags
Completed
Acquisition
Majority
property insurance
casualty insurance
Private
Friendly
Domestic
Single Bidder
Property and Casualty Insurance
United States
Synopsis
Zurich Insurance-backed insurance services providers Farmers Group and Farmers Exchanges, completed the acquisition of MetLife Auto & Home, the property and casualty business of MetLife, for $3.94bn. “The acquisition significantly increases the potential for growth at the Farmers Exchanges and will further boost the share of Zurich’s profits linked to stable fee-based earnings. Together with the continued increase in rates in commercial insurance, this transaction will strengthen our ability to achieve our 2022 targets,” Mario Greco, Zurich Insurance CEO.
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