Bids For Groupama UK Assets Due On Tuesday - Report
First Published Sunday, 26th February 2012 02:44 pm - © 2012 Dow Jones
LONDON -(Dow Jones)- Bids of around GBP300 million for the U.K. arm of French insurer Groupama are due on Tuesday, the Independent reports on Sunday.
Groupama's UK businesses, which write premiums in property, casualty and motor insurance of around EUR600 million a year, were put up for sale last month. They include Ryan Insurance, Bollington, Lark and Clinicare.
The report said it is "understood" that Zurich Financial Services AG (ZURN.VX), AXA SA (CS.FR) and Allianz SE (ALV.XE) and several private equity firms are considering making offers.
A spokesperson for Groupama couldn't be immediately reached for comment.
Newspaper Web site: http://www.independent.co.uk
-London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320