Big three insurers along with private equity mentioned in bid for Groupama
Zurich, Allianz and AXA, along with several private equity firms, are considering making a bid for Groupama, according to reports.
Bids are due in on Tuesday, according to The Independent on Sunday. RSA is thought to have taken a look but stepped back.
As reported by Insurance Times, broking subsidiaries Bollington and Lark are understood to be undergoing management buyouts. Bike broker Carole Nash is more likely to be sold off to a trade player. The insurance arm is likely to be sold separately. The two units could pull in a total of £300m for Groupama group, based in France.
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