QBE denies Allianz takeover talks

Australia’s QBE Insurance Group has denied that it was in discussions with Germany’s Allianz or any other potential buyer for a potential M&A deal in a Jan. 30 official statement.

Recent media speculation suggested that German insurer Allianz had approached QBE to discuss its interest in a potential takeover.

QBE, one of the world's 20 biggest insurance companies, operates in North America and Europe as well as in Australia and New Zealand.

Allianz CEO Oliver Bäte has said before that the German insurer is looking for opportunities to make acquisitions but that it is not easy to find attractive targets at a reasonable price.

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