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Mario Greco, chief executive of Zurich Insurance Group A.G., said that the insurer wants to do only targeted mergers and acquisitions and sees no need for sweeping consolidation in Europe, Reuters reported citing Bloomberg. Mr. Greco's remarks come amid speculation that Zurich Insurance and Germany-based Allianz S.E. could be interested in a tie-up. Mr. Greco said that Zurich Insurance is interested in M&As to strengthen its operations within a country.