Zurich negotiates the purchase of MetLife for 3,370 million | Companies

The Zurich insurance company is in advanced negotiations to acquire MetLife for 4,000 million dollars (3,370 million euros), according to sources close to the operation.

With the agreement, which would be closed through its Farmers Group subsidiary, the company seeks to expand its business as the industry deals with the impact of the coronavirus pandemic, which has generated several claims for business interruptions and event cancellations.

It would also allow MetLife to exit a market in which it faces other companies such as State Farm, Geico and Progressive Insurance.

The bulk of the American company’s business is based on auto insurance, an area in which fewer claims are taking place due to mobility limitations due to Covid-19. The deal could be announced in early December, according to the same sources. MetLife’s adjusted earnings in the US fell 68% in the third quarter compared to the same period in 2019, to $ 18 million (€ 15 million).

According to the firm itself, this decline was due to the “catastrophic losses” caused by the storms in the North American country. For its part, the Swiss insurance group recorded in the first six months of this year a net profit of 1,181 million dollars (1,000 million euros), which represents a 42% drop compared to the gains achieved in the same period from the previous year. Revenues sank 43% between January and June, to 22,257 million dollars (18,838 million euros), due to the result of the investment area


Schubert: One thing is to complete Badji’s transfer deal with the union … and a Brazilian offer to join Geraldo

Ahmed Schubert, former vice president of the Football Association, confirmed that there is a very strong negotiation between the management of Al-Ahly and Al-Ittihad clubs at the present time regarding Aliou Badji, the player of the Red Genie.

Schubert hinted at the same time that Geraldo wants to remain in the Al-Ahly club or cancel his contract if the Red Castle insists on his departure during the current summer transfers.

Ahmed Schubert said through his program, On Stadium, in the early hours of Wednesday morning: “The position of Aliou Badji? Yes, there is negotiation with Al Ittihad, and a very strong negotiation.”

He added: “The negotiations are going on the way to loan the player to the Etihad for a season, but the matter depends on Badji’s opinion himself. The federation adheres to the deal, and Al-Ahly will present the matter to the player, will he agree or not? This is the next question.”

Schubert continued via Ontime Sport: “Geraldo said that he wants to play in Brazil, and Al-Ahly has already succeeded in finding an offer from Brazil, but Giraldo is clear that (Oh, I am complementary, Ama Blush), I think it is like this for him.”


Schubert: Al-Ahly will wait for the Moroccan Raja to announce the transfer of Badr Bannon first

Journalist Ahmed Schubert confirmed that Al-Ahly club will wait for Moroccan club Raja Casablanca to announce the transfer of its international defender Badr Bannon to the Red Castle before Al-Ahly announces the deal.

Al-Ahly club officials concluded their agreement with Moroccan club officials of Raja to include Badr Bannon nearly two months ago, so that the Moroccan defender would wear the red shirt next season.

Schubert said in radio statements on his program with Schubert, “Badr Bannon is not staying in Cairo after the match between Raja and Zamalek, he traveled Morocco preparing himself and his last things before returning to Cairo again.

Schubert added, “Al-Ahly will announce what Al-Rajaa will officially announce, and then Al-Ahly will announce the contract with Bannon.”

Bannon has already signed contracts to join the Al-Ahly club, taking advantage of his presence in Cairo during the current period and wearing the team’s jersey and taking commemorative photos in preparation for the official announcement by the Al-Ahly club.

Amir Tawfiq, the club’s contracting director, put a clause in Al-Ahly’s contract with the Moroccan club Raja to activate the agreement at the end of the African Champions League on its old date or on November 8 as a maximum, which will push the Red Genie to announce the contract with the Moroccan player before that date.


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