German Insurers Say No Comment on Buying Tennet’s Business

Munich Re and Allianz, German insurance companies, declined to comment on a newspaper report which says that they were considering buying power grid from TenneT, one of Germany’s transmission system operators.

Reuter informs that Munich Re stated that it could not confirm the alleged interest, while Allianz and TenneT declined to comment at all.

The insurance companies are searching a stable income, which they can use to match against their long-term obligations to policy holders. That kind of income can be gained through long-term investments in infrastructure.

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Offshore WIND staff, August 14, 2012; Image: Statnett