German insurance group Gerling is being put up for sale by its shareholders, Deutsche Bank and Rolf Gerling.
It is believed Deutsche Bank, which has a minority share in the group, pressured Mr Gerling into selling his 65.5% share. This was because no companies were interested in buying a minority share alongside Mr Gerling, the grandson of the group's founder.
Gerling required its second emergency capital injection in three months this week after announcing a Euros 500m 2001 loss for its reinsurance subsidiary Gerling Globale Ruck.
The Euros 300m capital injection required was borne by Deutsche.
