Zurich in talks to acquire MetLife’s US P&C business

Zurich Insurance Group is in talks to acquire the US property and casualty (P&C) business of New York-based insurer MetLife.

Zurich subsidiary Farmers Group is proposing to acquire the business in conjunction with the Farmers Exchanges.

The Switzerland-based insurer has confirmed media reports regarding a potential transaction with MetLife, but stated that there can be no assurance that a transaction will take place.