German insurer Allianz (ETR:ALV) is not interested in buying Swiss Life (VTX:SLHN), as it does not regard the Swiss insurer as a good fit for Allianz, an Allianz executive told Reuters on Friday.

Joachim Faber, who head the Global Investors division of Allianz, told Reuters that Allianz is not looking now to make any large acquisitions.

Swiss banking sources said earlier this month that Allianz was preparing an offer for Swiss Life.

Country: Switzerland

Sector: Insurance

Target: Swiss Life Holding

Buyer: Allianz SE

Type: Corporate acquisition

Status: Denied

Comment: Allianz official says Swiss Life not a good fit