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Zurich and Farmers to buy MetLife U.S. P&C business for $3.94 billion

Zurich and Farmers to buy MetLife U.S. P&C business for $3.94 billion
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Zurich and Farmers to buy MetLife US P&C business

Updated / Friday, 11 Dec 2020
08:18
The MetLife deal help Zurich deliver its growth targets for 2022, the company said
Zurich Insurance and Farmers Exchanges have agreed to buy MetLife s US property and casualty business for $3.94 billion.
The Swiss insurer will contribute $2.43 billion to the deal through its Farmers Group (FGI) unit, while the Farmers Exchanges will contribute $1.51 billion, Zurich said today.
The deal will give Farmers Exchanges, to which FGI provides certain administrative and management services, nationwide presence in the US and access to new distribution channels, Zurich said.
It will also help Zurich deliver its growth targets for 2022.
The acquisition significantly increases the potential for growth at the Farmers Exchanges and will further boost the share of Zurich s profits linked to stable fee-based earnings, Zurich s chief executive Mario Greco said. ....

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