Bloomberg—Executives from reinsurers including Swiss Re Ltd. and Allianz Re said the industry’s appetite for mergers and acquisitions will be subdued this year because of the financial crisis.
“Today’s buyers are very pragmatic and analytical about deals and aren’t prepared to offer unreasonably high prices, disappointing the seller, which ends in very long discussions,” Thierry Leger, a member of the group management board at Zurich-based Swiss Re, said at a roundtable of reinsurance executives organized by Bloomberg News in Zurich. “Otherwise some of the assets would already now have been sold.”
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