The settlement follows on from the Supreme Court judgment in the FCA's BI test case in January.
Provider says split into distinct personal and commercial businesses will not result in any redundancies.
It is the broker's second deal since it was bought by GRP in 2018.
The collaboration is said to focus on insurance solutions for non-owned fleets in areas such as peer-to-peer vehicle sharing, on demand delivery, ridesharing, vehicle leasing, micromobility, and autonomous vehicles.
Are motor brokers going to listen to their customers?
The move sees Steve Treloar become CEO, Allianz Personal and Simon McGinn become CEO, Allianz Commercial, as the provider announces a number of senior exits including Sarah Mallaby, Neil Clutterbuck and Chris Little.
The move follows Markel joining the panel of the Global Risk Partners network last month.
Updated figures reveal providers have made initial payments for unsettled claims worth £308.9m and final settlements worth £566.6m since the Supreme Court verdict in the FCA test case.
Research from Ecclesiastical reveals the biggest threats specialist brokers are facing as well as why they believe being niche gives them a competitive advantage over other brokers.
But the deal is still on hold as a November trial looms in the United States and the New Zealand Commerce Commission also raises competition concerns.
Data from Consumer Intelligence also suggested the FCA dual-pricing regulation would see the industry experience a hard market once more.
Linkscover provides insurance to many golf clubs in the UK.
CEO Phil Barton reveals how the recent Kudos deal came about and discusses how the purchase of a loss adjuster will enhance the broker's client proposition.
Group CEO Nick Houghton discusses how the Bickley deal came about and reveals plans to acquire 10 to 15 more businesses in the next three to five years.
Simon Drew and Mark Wilding lift the lid on why they left Marsh Commercial to form a new venture supported by TL Dallas.
Ageas's Ant Middle and Adam Beckett discuss the provider's strategy change in response to shifts in customer behaviour, and the FCA's dual pricing ban, as the insurer aims to hit £1.5bn in GWP.
The broker bought London-based ES Risks for an undisclosed sum.
Aviva's Peter Holmes goes into detail about the issues affecting supply chains and shares what this means for insurance providers.
MD Paul Younger says Castle has further deals in the pipeline as it targets £10m in GWP.
Bickley Insurance, which is based in Surrey, has been purchased for an undisclosed sum.
Following reports of a rise in the number of start-up brokers, Ida Axling says it is great to see that the entrepreneurial spirit remains strong in the broking sector.
CEO Alistair Hardie discusses Jensten's acquisition strategy and why Tasker "fits the bill" for what the business is looking for.
The new UK GI CEO, Adam Winslow, highlights broker support as he flags “millions” in investment going forward as the insurer focuses on growing GI’s role within the group.
Deal includes Tasker Insurance Brokers, Tasker & Partners, and Gresham Underwriting and brings £50m GWP to Jensten.