(Bloomberg) -- Zurich Insurance Group AG, the biggest Swiss insurer, is seeking more licenses to expand in Chinese cities as part of a strategy to grow in emerging markets, chief executive officer Martin Senn said.

Mergers and acquisitions provide an additional channel for growth, yet the Zurich-based company will not participate in bidding wars for Asian insurance assets, Senn said today in an interview with Bloomberg Television in Hong Kong. In addition to China, Zurich Insurance seeks to become “a leading insurer” in Malaysia and is looking to expand in Indonesia, he said.

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