Deutsche Bank AG and its asset management arm DWS Group are weighing a move to inject fresh capital in exchange for a significant minority stake in Fosun International-controlled life insurance consolidator Frankfurter Leben, Bloomberg News reported on Wednesday.
Reuters could not immediately verify the report. A spokesperson from DWS declined to comment on the report.
Deutsche Bank, Frankfurter Leben, and Fosun did not immediately respond to Reuters’ requests for comment.
A backing by Deutsche Bank and DWS could help Frankfurter Leben step up acquisitions and potentially resume writing new life insurance policies, the report said.
Frankfurter Leben manages about 700,000 insurance contracts with an investment portfolio of about 13 billion euros ($15.49 billion), according to the report.
($1 = 0.8392 euros)
Reuters
