according to the above, the mkt caps of the possible targets are:
1. Zurich ~ £33.9bn mkt cap LOGIC: huge synergy benefits, US & EUR transformation change (big bite)
2. Aviva ~ £19.7bn. Logic: very little - hasnt expressed interest in UK life previously (dominant exposure)
3. QBE’s ~ £7.49bn
"QBE has had a difficult 2017. Its UK arm took a £109m Ogden hit, while the group had a 104% combined operating ratio and posted a loss of £858m. This could put Allianz off, sources suggest."
4. RSA ~ £6.86bn
"A tilt at RSA could also bring Zurich back to the table and it is unlikely that Allianz would want to get into a bidding war,” Laughton-Scott said."
whoever the target is, one would assume a 30% premium....
QBE Price at posting:
$10.34 Sentiment: Hold Disclosure: Held
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