Allianz building A tram passes through a city square with illuminated logos for Allianz SE and Ericsson AB standing on nearby buildings in Zagreb, Croatia. (Photo: Oliver Bunic/Bloomberg)

(Bloomberg) – A $94 billion financial behemoth is keeping the market on tenterhooks about its next move.

Europe's largest insurer, Allianz SE, is in the early stages of evaluating a variety of potential acquisition targets as deal-hungry Chief Executive Officer Oliver Baete scans the market for growth, people with knowledge of the matter said. Those on the list range from Switzerland's Zurich Insurance Group AG and the U.K.'s RSA Insurance Group Plc to Hartford Financial Services Group Inc. in the U.S. or, going further afield, assets in China, they said.

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