Zurich Insurance could be adding to its Asian business with an acquisition of a life insurer.
Zurich Insurance Group AG is considering making a bid for the life insurance arm of PT Astra International, «Bloomberg» (behind paywall) wrote citing people familiar with the matter. BNP Paribas's Cardif is also said to be considering an offer, along with other firms.
The talks are still preliminary and a formal sale process for PT Asuransi Jiwa Astra, known as Astra Life, is yet to start, the report said,
The companies could also decide against pursuing a transaction and other buyers could emerge, it added.
Zurich Insurance did not respond to a request for comment.
