Zurich Financial Services Group (Zurich) confirmed Thursday that it has been considering making a bid for the insurance business of Royal Bank of Scotland and has carried out a detailed review of the opportunities. Following such review, the Group has decided to withdraw from any further discussions.Zurich said in a statement that it will continue to assess growth opportunities in line with its stated strategic and financial targets, in furtherance of continued shareholder value. In addition, it will recommence purchasing shares under its previously announced share buyback program starting Friday, July 11.
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