“Business as usual” for LV and Allianz following deal
No changes for brokers until the £500m deal goes through but bosses believe the “complementary businesses” are strategically matched and LV aims to become personal lines insurer of choice for brokers.
The LV and Allianz bosses have insisted that brokers should continue to deal with the insurers in the usual way following the revelation that Allianz is set to buy a 49% stake in LV for £500m – rising to £713m after a further deal in 2019.
Both Allianz Insurance CEO Jon Dye and Steve Treloar, managing director for GI at LV, agreed that the two businesses were “still in competition until the deal goes through”.
It is thought that the deal will be finalised subject to regulatory approval by the
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