trending Market Intelligence /marketintelligence/en/news-insights/trending/eKwY2SjHcqU_hLEtH_iENg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Allianz acquires 2 UK general insurance companies

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February


Allianz acquires 2 UK general insurance companies

Allianz Holdings PLC has bought the remaining 51% stake in LV= General Insurance from Liverpool Victoria Friendly Society Ltd. and also acquired Legal & General Group PLC's general insurance business.

Allianz now owns 100% of LV= General Insurance. Total consideration for the purchase is up to about £1.08 billion.

The company also bought Legal & General's general insurance business for £242 million. It will be combined with LV= GI but the Legal & General brand will continue to be used in the U.K. general insurance market for up to three years.

Mike Crane, current managing director of LV= GI, was appointed as CEO of Legal & General's general insurance division, subject to regulatory approval. Steve Treloar, CEO of LV= GI, will become a member of the Allianz Holdings board and will join the Allianz U.K. management board.