Allianz UK buys L&G's GI division for £242m

Deal

Allianz UK has confirmed it is to buy the general insurance business of Legal & General Group for £242m.

The insurer explained that it intends to combine the L&G business with LV’s general insurance business once the deal has gone through. It is expected to complete in the second half of 2019.

L&G put its GI business up for sale with a £300m price tag in December last year and Allianz was previously reported to be one of the frontrunners to buy it.

L&G Insurance provides personal home

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