Maiden Holdings sells German car insurer, subsidiaries to Allianz Partners

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16 Jan, 2019

Author Rica Dela Cruz
Theme Insurance

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.

Author
Rica Dela Cruz
Theme
Insurance