Allianz and LV deal approved
Announcement made on 29 December 2017.
Allianz’s takeover of LV’s general insurance business received regulatory approval at the end of last year.
In an announcement on 29 December the insurers confirmed that the £500m initial deal for 49% of LV’s GI offering had proceeded.
The takeover was first revealed in August. It is structured with Allianz paying £213m in a second transaction in 2019 for a further 20.9% stake.
At that point the German insurer will hold 69.9% of the business. The overall effect values LV’s GI business at £1
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