(Reuters) - Germany’s biggest insurer Allianz is in advanced talks to buy Legal & General’s home insurance business, Sky News reported on Monday.
Sky News had reported in December that Direct Line had indicated its interest in making a 400-million pound ($517.08 million) bid to buy the British life insurer’s unit.
However, Monday’s report said Allianz was in exclusive talks to buy the unit, which was put up for sale late last year.
L&G declined to comment when contacted by Reuters, while Allianz could not be reached.
Reporting by Samantha Machado in Bengaluru and Carolyn Cohn in London; Editing by Arun Koyyur