(Reuters) – Property and casualty insurer Chubb Ltd is considering buying smaller rival Hartford Financial Services Group Inc in a deal that would value the company at $21 billion, CNBC reported on Thursday, citing Bloomberg News.
Chubb, one of the world’s largest insurers, has made a preliminary takeover approach for Hartford, according to the report.
Chubb and Hartford did not immediately respond to a Reuters request for comment.
(Reporting by Niket Nishant in Bengaluru)
