Allianz has declined to respond to speculation it is looking to sell its Hunter Premium Funding business.

The Australian Financial Review yesterday reported that the insurer has commissioned Deutsche Bank to run a sale process.

Premium funders pay a business’ annual premium up front, enabling clients to make regular payments and avoid a single lump sum. Hunter has 60 staff, providing 90,000 funding solutions to businesses every year.

The newspaper report says the sale price “is likely to be around $150 million”, and floats Steadfast and Gallagher as possible buyers.

“Allianz never comments on speculation on mergers and acquisitions,” a spokesman told insuranceNEWS.com.au.