Allianz buys remaining share of LV= General Insurance

For up to £365m

Adam Saville
clock • 1 min read

Allianz to own 100% LV=GI following transaction worth £1.078bn

LV= has agreed to sell its remaining 30.1% stake in LV= GI to Allianz Group after 49% was bought in December 2017. The latest sale, worth £365m, sees the withdrawal of LV= from its general insurance partnership with Allianz. Allianz acquired the initial stake for £500m and the second stage of the transaction will take place at the end of 2019 where Allianz will pay £213m for a further 20.9% through an agreed forward purchase. The overall sale, which will close on 31 December 2019, will cost Allianz a total of £1.078bn. Following completion, Alan Cook, Richard Rowney, David Neave...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Insurer

Royal London names Isabel Hudson as chair

Royal London names Isabel Hudson as chair

Joins in February 2025

Jaskeet Briah
clock 17 January 2025 • 1 min read
Predictions for the UK protection market

Predictions for the UK protection market

2025 market shifts

James Tait
clock 13 January 2025 • 3 min read
AXA UK adds to c-suite

AXA UK adds to c-suite

Appointment of Sally Pain

Jaskeet Briah
clock 10 January 2025 • 1 min read