Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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XL shares rise over 12% on Allianz M&A report

Anthony Baldo and Laura Board 8 February 2018

XL Group shares jumped 12.5 percent yesterday after a Bloomberg report said the Bermuda-based (re)insurer had drawn takeover interest from Allianz and possibly others.

The company's stock closed at $42.00 in New York after Bloomberg cited sources that said the interest in XL from potential acquirers is preliminary.

Those sources also noted that Allianz views the potential target as a way to expand its US casualty business.

A potential acquisition by Allianz of XL Group would mark a huge step-up...

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