Zurich eyes acquisition of MetLife’s US P&C business

Zurich Insurance Group is eyeing the acquisition of the US property and casualty (P&C) business of MetLife, the New York-based insurer.

Farmers Group, a Zurich subsidiary, is proposing to acquire the business with the Farmers Exchanges.

The Switzerland-based insurer has confirmed media reports regarding a potential transaction with MetLife, but stressed no agreement has been reached.