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St Paul Travelers denies Zurich merger talks again

Following recent media reports of a possible tie-up, The St. Paul Travelers Companies has again denied that it has had merger discussions with Zurich Financial Services Group.

Swiss newspaper Cash recently renewed speculation about a possible merger, rumors about which originally began circulating in March 2006. Cash reported that a merger between the US property casualty insurance firm and the Swiss insurance giant could be on the cards for November, with St Paul Travelers paying around $300 a share for Zurich.

However, St Paul Travelers has issued a statement claiming that the media reports are not true.