FRANKFURT (Reuters) - Hannover Re is mulling acquisitions but will likely avoid large targets, its chief executive said on Friday.
“We are constantly looking at acquisitions, but one of the reasons we have a favourable expense ratio is that in the last 20 years, we never had to integrate a large acquisition,” Ulrich Wallin told an analyst conference.
“We are not terribly keen on paying any goodwill,” he said, adding that any acquisitions would more likely be in life reinsurance than in non-life.
“We can grow organically,” he said, declining to comment on whether Hannover would be interested in the U.S. reinsurance business being sold by Italy's Generali.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.