MUNICH (Reuters) - German reinsurer Munich Re (MUVGn.DE) is in talks to sell its asset management division to U.S. fund manager Guggenheim Partners, a person familiar with the matter said on Thursday.
Talks are at an early stage, and there is currently no formal sale process, said the person, who spoke on condition of anonymity to describe the private discussions.
Munich Ergo Asset Management GmbH (MEAG) has 250 billion euros ($289 billion) in assets under management.
The Wall Street Journal first reported the talks.
Reporting by Alexander Huebner; Writing by Tom Sims; Editing by Maria Sheahan and Mark Potter