Allianz Picks Up 2 British Insurers For £1.3B
Law360, London (January 2, 2020, 11:44 AM GMT) -- Insurance giant Allianz said Thursday that it has acquired British insurers LV General Insurance Group and the general insurance division of financial services company Legal & General for a combined £1.3 billion ($1.7 billion.)
Allianz has bought a 100% stake in LV General Insurance Group from Liverpool Victoria Friendly Society for what the German company said was up to £1.078 billion. It will also pay £242 million for the full ownership of the general insurance division of Legal & General. The deals will make Allianz the number two general insurer in Britain based on gross written premiums reported in 2018, the company...
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