German Allianz SE Group has made an offer to take over unofficial QBE Insurance, the largest insurance company in Australia, not to mention the transaction value, said on Monday, Reuters sources who wished to remain anonymous.
Allianz SE shares, the largest insurance company in Europe fell 1.6% month after publication Handelsblatt announced that Allianz has launched a tender for 15 Australian dollars per title, which assesses QBE to 20 billion dollars Australians (15 billion dollars).
QBE, one of the top 20 insurance companies in the world with operations in North America, Europe, Australia and New Zealand, issued a statement saying that it is in talks with Allianz or another possible buyer.
Allianz representatives have not commented on the information. Australia is an attractive market because the population and the economy is growing faster than in other developed countries and regulations are more stable than in emerging markets.
This month, general manager of Allianz SE, Oliver Baeta, said the German insurance company is interested in major acquisitions in the United States and Europe. Analysts estimate that Allianz has nine billion fund for acquisitions.
The German company is present on the market in Romania by Allianz-Tiriac.
