25 September 2015
Brought to you by Investec Switzerland.
Zurich Insurance Group abandons RSA bid
Zurich Insurance Group AG abandoned an offer for RSA Insurance Group Plc because it expects a loss in its own general insurance business in the third quarter and will conduct a review of the unit. Zurich expects a loss of $200 million in its general insurance business, the company said in a statement Monday. By Jeffrey Vögeli (Bloomberg). Read more.
Actelion founder doesn’t see acquisition as defensive move
Actelion Ltd. wouldn’t make an acquisition solely as a defensive move, Chief Executive Officer Jean-Paul Clozel said. Instead the Allschwil, Switzerland-based company may use a takeover to expand into a new therapeutic area, Clozel said in an interview on Tuesday. By Albertina Torsoli (Bloomberg). Read more.
Nestle to develop Alzheimer’s test in Swiss research alliance
Nestle SA, the world’s largest food company, formed a research alliance with a Swiss drug developer to work on a test that could diagnose Alzheimer’s disease in its early stages. By Thomas Mulier (Bloomberg). Read more.