By Reuters Published: 04:30 EDT, 16 December 2016 | Updated: 04:30 EDT, 16 December 2016 FRANKFURT, Dec 16 (Reuters) - Germany's Allianz is in talks with Assicurazioni Generali as it weighs a bid for the company's French operations, Bloomberg reported, citing people familiar with the matter. Executives at Allianz, Europe's largest insurer, are uncertain that a combination with the French insurance business would be approved by regulators, and the companies may not reach a deal, one of the people told Bloomberg. France accounts for about 15 percent of Generali's gross written premiums, its third-largest market after Italy and Germany. Generali and Allianz declined to comment on the report. Shares in Generali jumped nearly 6 percent to 14.91 euros in early trade, to their highest level since January. Allianz's stock was down 0.5 percent at 155.95 euros at 0917 GMT. (Reporting by Maria Sheahan; additional reporting by Kathrin Jones in Frankfurt and Gianluca Semeraro in Milan; editing by Jason Neely) Advertisement
Allianz , Italy 's largest insurer , is making a bid for the French business of Assicurazioni , although executives at Allianz are unsure whether the takeover of the French insurance business will be approved by shareholders , Bloomberg reported .