Allianz completed the acquisition of the general Insurance business of Westpac for $535m.

Allianz, a multinational financial services company, completed the acquisition of the general Insurance business of Westpac, a financial institution, for $535m. “Westpac has been a long-term business partner for Allianz and we are very pleased to enter into this new agreement. Both companies share aligned values, particularly in relation to a customer -first approach to design and distribution, and using innovation and tech nology as key enablers to delivering customer satisfaction, so we see this as a fantastic opportunity," Richard Feledy Allianz Australia Managing Director.