Munich Re in talks over asset management unit sale

German reinsurer Munich Re is in talks to sell its asset management division to US fund manager Guggenheim Partners, Reuters reported on June 21 citing a person familiar with the matter.

Munich Ergo Asset Management (MEAG) has €250 billion ($289 billion) in assets under management.

Talks are at an early stage, and there is currently no formal sale process, said the person, who spoke on condition of anonymity to describe the private discussions.

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