Announced
Completed
Financials
Tags
Majority
Friendly
insurance company
Private
Acquisition
Germany
Full Line Insurance
Single Bidder
Completed
Synopsis
Allianz, one of the world's biggest insurers and asset managers, completed the acquisition of Legal & General's German insurance unit for £242m ($305m). Legal & General is one of the UK's financial services groups and a major global investor. "This is a good outcome for all the parties involved and acquiring a high quality business with 2m customers to combine with the LV= General Insurance business is a strong result. The Allianz Group has worldwide insurance experience, is robustly capitalised and has a strong reputation for customer service and these strengths will be applied to grow the business," Jon Dye, Allianz UK CEO.
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