ZURICH (Reuters) – Zurich Insurance has backed away from deal talks in emerging markets as prices heat up, the insurer's chairman said in a newspaper interview.
“We're not going to be a part of the increasing competition on price,” Zurich's chairman and former Deutsche Bank head Josef Ackermann is quoted as saying in Saturday's edition of Swiss weekly Finanz und Wirtschaft.
“Zurich's priority is profit growth over volume expansion,” Ackermann said.
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