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Martin Senn, CEO of Zurich Financial Services AG, gestures as he speaks during a session on the opening day of the World Economic Forum in Davos, Switzerland, on Jan. 21, 2015. (Photo: Chris Ratcliffe/Bloomberg)

(Bloomberg) — With Zurich Insurance Group AG on the verge of pursuing its biggest acquisition in more than a decade, Europe is poised to add to the consolidation that is sweeping the industry globally.

RSA Insurance Group Plc shares surged almost 20 percent on July 28 after Zurich said it was considering an offer for the London-based provider of property and auto coverage. Zurich is said to be raising financing ahead of a potential offer for $8.7 billion RSA, people familiar with the talks said last week.

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