The $3.94 billion sale of MetLife’s property and casualty business in the US has been finalized.
Announced last December, the now completed transaction saw the Farmers Exchanges pay $1.51 billion while $2.43 billion came from Zurich Insurance Group’s wholly owned subsidiary Farmers Group, Inc. (FGI).
It was noted that Zurich has no ownership interest in the Farmers Exchanges, and that FGI provides certain non-claims services and ancillary services to the Farmers Exchanges as its attorney-in-fact.
“We are very pleased that the acquisition has been approved so rapidly,” commented Zurich chief executive Mario Greco. “We expect the new