German reinsurer Munich Re, parent of Connecticut’s Hartford Steam Boiler, sees potential for expansion in the United States, possibly through acquisitions, Reuters reports, citing a German newspaper’s published comments from a Munich Re board member.
“I can imagine further acquisitions there (in the United States),” said Jeworrek, who is the board member responsible for the group’s reinsurance business.
Analysts said any takeovers were unlikely to be on a large scale.
“We are skeptical with regards to acquisitions in the United States,” said DZ Bank analyst Thorsten Wenzel in a note to clients.
“However, any acquisitions are likely to be small scale niche businesses,” Wenzel said.
Aside from feeling underrepresented in the United States, the group also saw Asian and Latin American markets as having good potential, Jeworrek said.
