Zurich Insurance’s FGI to buy MetLife’s U.S. P&C business

Zurich Insurance Group subsidiary Farmers Group Inc (FGI) has agreed to acquire MetLife’s property and casualty (P&C) business in the U.S. together with the Farmers Exchanges for $3.94 billion, the two insurers said on Friday, after COVID-19 pandemic made motor and home insurers more profitable. Zurich will contribute USD 2.43 billion through FGI and the Farmers Exchanges1 USD 1.51 billion. The transaction