Brokers cautiously optimistic about Allianz's L&G GI buy

jigsaw-pieces

Brokers have largely welcomed the news that Allianz UK is buying Legal & General’s (L&G) general insurance division.

It was announced last week that Allianz had bought L&G GI for £242m, after L&G had put the business up for sale with a £300m price tag last December. Prior to the deal, Allianz had been believed to be a frontrunner in the race to buy the business.

In addition, Allianz also bought the remaining stake of LV for £365m.

Brokers were not surprised by the transaction, with managing

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