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Report: Allianz, others interested in buying XL Group

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Report: Allianz, others interested in buying XL Group

Allianz Group has expressed an interest in acquiring XL Group Ltd in the hopes of growing its casualty coverage business in the U.S., Bloomberg News reported, citing "people with knowledge of the matter."

Allianz is one of the insurers that approached XL for a potential deal. The talks are preliminary and there is a likelihood that a deal may not happen, according to the report.

XL did not provide a comment and Allianz said it does not comment on rumors.