With the backing of Deutsche Bank and DWS, Frankfurter Leben could pursue a more ambitious acquisition strategy and potentially resume writing new life insurance policies, the people said. Zurich Insurance Group AG’s German life insurance portfolio, which has about US$20 billion in assets and is being put up for sale, could be among the potential targets for Frankfurter Leben, some of the people said.
(Jan 29): Deutsche Bank AG and its asset manager DWS Group are considering taking a significant minority stake in a Fosun International Ltd-controlled life insurance consolidator, people familiar with the matter said, potentially marking the German lender’s return to the market.
The bank and DWS could inject fresh capital into Frankfurter Leben Gruppe to become a shareholder, the people said, asking not to be identified because the information is private. Frankfurter Leben manages about 700,000 insurance contracts with an investment portfolio of around €13 billion (US$15.5 billion, or $19.58 billion). It has about 170 employees.
