Allianz UK buys L&G's GI division for £242m
Provider to combine the business with LV following the completion of the 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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Broker’s emails defeat negligence claim
- Academy strikes deal to buy Premierline from Allianz
- FOI request pulls back the curtain on FCA’s broker S166s