Aviva, the UK’s largest insurance group, is feeling amorous. It’s considering a move back across the Atlantic, with negotiations under way for a £1.5 billion ($3.69 billion) acquisition AmerUs Group.

“(The talks) may or may not lead to the acquisition of AmerUs,” it said in a prepared statement.

That open-ended announcement led to swift falls in Aviva’s share price, even as investment analysts gave the scheme a big tick, saying a US acquisition offers good long-term prospects for Aviva.

Neither party has mentioned any specific cost of the sale, but media reports in the UK say Aviva unsuccessfully offered £1.5 billion in January. Analysts suggest a slightly lower price would be fair this time around.

The US market is growing much faster than the European and UK markets and Aviva has already announced a strategy to make acquisitions in “key growth segments”.

On the downside, the US market has less regulatory certainty at present.