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Zurich to buy MetLife U.S. property and casualty business for $3.94 bln

ZURICH, Dec 11 (Reuters) - Zurich Insurance said its subsidiary Farmers Group and Farmers Exchanges had agreed to acquire MetLife's property and casualty business in the U.S. for $3.94 billion.

The transaction will give Farmers Exchanges nationwide presence and access to new distribution channels and is expected to support the delivery of Zurich's growth targets for 2022, the Swiss insurer said in a statement on Friday. (Reporting by Silke Koltrowitz; editing by Thomas Seythal)