Allianz Gets Greenlight For £242M Legal & General Deal

Law360, London (September 27, 2019, 3:27 PM BST) -- The European Commission on Friday approved German insurer Allianz's £242 million ($298 million) deal to acquire an insurance arm from Legal and General Insurance Ltd.

Allianz’s U.K. subsidiary, Allianz Holdings PLC, has been cleared to buy the general insurance businesses of British financial services giant Legal & General after the EU’s executive arm found the deal would not cause competition concerns in the market and gave it approval under the bloc’s merger regulations.

Legal and General, known as L&G, provides home and pet insurance in the U.K. Allianz’s U.K. subsidiary also offers a range of general insurance to the British market....

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