Zurich Financial Services on Wednesday predicted volatile financial markets would prompt big takeover opportunities for well capitalised companies, as victims of market turbulence jettisoned non-core assets.

James Schiro, chief executive of the Swiss insurer, declined to comment on why ZFS had not pursued the UK insurance interests of Royal Bank of Scotland. But Mr Schiro, who has overseen a textbook turnround at ZFS over the past six years, said current market uncertainties meant his group was examining more deals than ever.