Insurance industry observers were surprised recently by a page-one Wall Street Journal article describing a rumored merger between Zurich Financial Services and St. Paul Travelers Corp.

This would have been a blockbuster deal, representing the combination of the fourth and fifth largest property-casualty insurers in the United States based on net written premium, and the uncommon union of a European and a U.S.-based insurer.

Both organizations quickly swept aside these notions and there has been no further information on the matter.

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