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AXA CEO: no interest in buying Zurich or Generali - Bilanz magazine
March 30, 2017 / 1:26 PM / 6 months ago

AXA CEO: no interest in buying Zurich or Generali - Bilanz magazine

Thomas Buberl, CEO of French insurer AXA, speaks during the company's 2016 annual results presentation in Paris, France, February 23, 2017. REUTERS/Charles Platiau

ZURICH (Reuters) - French insurer AXA (AXAF.PA) has no interest in taking over either Italian or peer Generali (GASI.MI) or Swiss group Zurich Insurance (ZURN.S), Chief Executive Thomas Buberl told Swiss magazine Bilanz.

“We’re big enough,” Buberl said in an interview published on Thursday. “I don’t need Zurich, I don’t need Generali. Many groups are big in just two or three markets. We belong to the top players in eight to 10 markets.”

Buberl said there was “no chance” Axa would join wider market interest in purchasing Generali.

Axa’s focus at the moment was on better reaching customers, he said.

Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields

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