News analysis: Allianz and LV deal sees personal and commercial lines business shake-up
Personal lines moved to LV brand as commercial lines go to Allianz as part of £713m deal
Allianz’s £500m deal to buy 49% of LV was not a huge surprise to the market – rumours of talks had been in the press for weeks.
The deal will create a larger personal lines business under the LV brand (see values box below) and current LV MD, general insurance, Steve Treloar will take the reins. Allianz will move its personal lines business to LV (PetPlan is not included) and take on LV’s commercial offering.
The first part of the deal is expected to go through by the end of 2017. The
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