Allianz SE is not looking at acquiring Swiss Life Holding AG. Joachim Faber, who head the Global Investors division of Allianz told Reuters that it does not regard the Swiss Life Holding as a good fit for it. He stated that Allianz does not plan to make any large acquisitions. It was earlier reported that Allianz was preparing an offer for Swiss Life.

Swiss Life Group appointed Matthias Aellig as its new chief risk officer, with effect from the second quarter of 2010. Mr. Aellig's previous professional experience includes working as a consultant for McKinsey & Company, as chief actuary life of Winterthur Group and, most recently, as chief actuary of Zurich Life Switzerland. In his new role, he will be responsible for risk management, compliance and actuarial services at the Swiss Life Group. He will report to Thomas Buess, the group CFO.

Allianz SE is known to be considering an offer for Swiss Life Holding, website Wansquare reported, quoting various Swiss banking sources. The report stated that if an offer materializes in the coming days, it would be based on $5.3 billion, given Swiss Life's market value of CHF 4.6 billion and a minimum premium of around 20%. Reuters reported that Allianzs spokesman and Swiss Lifes spokesman denied commenting on the report. Last week, shares of Swiss Life rose due to speculations that Allianz could be interested in making a bid for the company.