Zurich Insurance weighs bid for RSA Insurance

• Zurich Insurance (OTCQX:ZURVY) is considering a potential offer for the U.K. rival RSA Insurance (OTCPK:RSNAY), in a deal that could be valued at around $7B.
• The Swiss insurer said it was responding to media speculation about a bid and that its announcement doesn’t mean it will definitely make an offer.
• RSA shares are up 11.4% in London on the news.