Talanx CEO rules out takeover of Swiss Life-paper
* Talanx only wants strategic partnerships
* Swiss Life shares fall 1.7 pct
ZURICH, April 29 (Reuters) - Unlisted German insurer Talanx does not plan a takeover of Swiss Life (SLHN.VX) after buying nearly 10 percent of its competitor, Talanx Chief Executive Herbert Haas was reported as saying on Wednesday.
"We have always indicated to Swiss Life that we have absolutely no interest in a takeover of Swiss Life," Haas said in an interview with Swiss newspaper Handelszeitung.
"A stake of nearly 10 percent is enough for us," he said.
Swiss Life shares traded down 1.7 percent at 85.10 Swiss francs by 1222 GMT, underperforming a 3.8 percent rise in the DJ Stoxx European insurance index .SXIP.
"The comments of Talanx CEO Herbert Haas have blown away takeover speculation," a trader said.
Talanx, Germany's third-largest insurer, agreed to buy a 9.9 percent stake in Swiss Life as part of a strategic partnership that also involves it taking over 8.4 percent of German pensions specialist MLP (MLPG.DE), Swiss Life said on March 24. [ID:nLO115117]
Swiss Life owns German financial adviser AWD and still has a stake in MLP, which it intends to reduce to below 10 percent.
Before selling part of its stake to Talanx, Swiss Life held over 24 percent of MLP, which had defended itself fiercely against what it saw as a possible takeover attempt by Swiss Life.
"The investment in Swiss Life gave us the opportunity to secure links to AWD and MLP," Haas said.
He said Talanx was also interested in cooperation with Swiss Life, but ruled out Talanx taking a seat on the Swiss Life board.
Talanx planned to supplement acquisitions in east and central Europe with expansion in Latin America, Haas said and that his company could imagine taking Swiss Life on board with this undertaking.
"We could create new life products which run under our own name or a common name. Swiss Life's name has an excellent reputation and that could help us," he said. (Reporting by Jason Rhodes; Editing by Andrew Macdonald)
