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Swiss Life CEO says M&A tough at moment: paper
April 7, 2012 / 7:00 AM / 6 years ago

Swiss Life CEO says M&A tough at moment: paper

ZURICH (Reuters) - The head of Swiss Life SLHN.VX believes mergers and acquisitions are difficult at the moment, with little opportunities in the Swiss market, a newspaper quoted him as saying on Saturday.

Group Chief Executive Officer (Group CEO) Bruno Pfister of insurer Swiss Life gestures as he addresses a news conference in Zurich February 29, 2012. REUTERS/Arnd Wiegmann

Chief Executive Bruno Pfister calls the shots for Switzerland’s biggest dedicated life insurer, which like many in the sector is battling ultra-low interest rates.

In response to a question by the German-language Finanz und Wirtschaft on a possible acquisition or fusion, Pfister said: ”It’s worth considering but implementing it in practice is anything but easy.

“I don’t see any big movement ... at the moment. And in Europe there are few pure non-life insurance corporations,” he said.

“There are almost only large firms, with the effect that the autonomy of Swiss Life would be undermined and the brand would disappear. But we don’t want that.”

Reporting by Catherine Bosley; Editing by Nick Macfie

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