US private equity group Stone Point Capital is considering a possible takeover of French reinsurer AXA Re, according to reports.
AXA Re, which La Tribune said was valued at around €1.2bn ($1.5bn), has previously been linked in newspaper and analyst reports with a possible merger deal with rival French reinsurer Scor.
La Tribune, citing a source familiar with the matter, said Scor had made an offer for AXA Re, which is a unit of insurance group AXA. However, the takeover talks broke down over the price of the possible deal, La Tribune said.
Officials at AXA could not be immediately reached for comment.
In February, AXA Chief Executive Henri de Castries said he would not comment on market rumours surrounding AXA Re but he added that the company was pleased with the results of its reinsurance arm, which made an operating profit despite losses to the industry caused by hurricanes Katrina and Wilma.
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