Allianz ready to pay up for Provinzial NW - report

FRANKFURT Mon Dec 3, 2012 2:19am EST

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FRANKFURT Dec 3 (Reuters) - Germany's Allianz is prepared to offer more for Provinzial Nordwest, the country's second-biggest public sector insurer, than initially planned, a newspaper reported on Monday

Allianz, Europe's biggest insurer, may offer significantly more than Provinzial Nordwest's book value of 2.25 billion euros ($2.9 billion), which is what Allianz was initially prepared to pay, Financial Times Deutschland said, without specifying its sources.

Sources close to the owners of Provinzial Nordwest told Reuters on Friday that Allianz was mulling a bid.

($1 = 0.7689 euros) (Reporting by Christoph Steitz; Editing by Mark Potter)

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