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Maiden Holdings Ltd. has sold Germany-based auto insurance subsidiary AVS Automotive VersicherungsService GmbH and its related European subsidiaries to Allianz Partners SAS.
The sale's terms include an undisclosed cash payment at closing, as well as a three-year quota share reinsurance agreement with Allianz Partners.
The employees of AVS Automotive VersicherungsService GmbH have joined Allianz Partners. It will continue to operate using its existing name.