Munich Re's private health insurance unit Deutsche Krankenversicherung AG (DKV) is considering laying off a 'few hundred' of its staff and closing 27 offices, according to reports.
German newspaper, Sueddeutsche Zeitung, reported the news, citing unnamed sources.
A DKV spokesman had told the newspaper that the insurer wants to make structural changes and modify its operations, but decisions about layoffs or office closures have not been reached.
Germany's largest private health insurance already reduced its staff by 1.6% to 6,200 last year.
DKV's intentions to restructure operations come in the wake of rival Allianz AG's announcement last month that it was cutting 5,000 staff in its underperforming domestic insurance unit Allianz Deutschland AG.
Zurich Financial Services Group said yesterday that it will cut 1,000 of the 5,700 positions at its German insurance operations.
